Sprint
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Douglas Passon

Managing Partner

Robert Bender

Managing Partner

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PROPERTY ADDRESS

28315 Grand River Ave., Farmington Hills, MI 48336

PROPERTY INFORMATION

Price:
$480,000
Cap Rate:
7.0%
Term Remaining:
5 Years
Year Built:
1968
Status:
Available

INVESTMENT HIGHLIGHTS

  • 2,755 SF Sprint Store on .23 Acres
  • Minimum Landlord Responsibilities
  • Lease Just Extended For Another 5 Years
  • 15 Surface Parking Spaces
  • 131 Feet of Frontage on Grand River Avenue

INVESTMENT SUMMARY

Fortis Net Lease is proud to present a Sprint store located at 28315 Grand River in Farmington Hills, MI. The tenant recently exercised their first option and extended the NN lease for 5 years. The extension will commence on November 1, 2017 and at this time the rent will increase by 7.69 percent.

The subject property is situated in a large retail area and is surrounded by many national tenants including: Walmart, Target, Dollar Tree, Sears, Planet Fitness, Toys R Us, O’Reilly Auto Parts, Kohl’s and Walgreens. It is located in a densely populated area with over 230,600 residents within five miles and has a projected 1.15 percent growth rate within one mile by 2022. The average household income within five miles is $72,000 and the median home value exceeds $138,000.