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Repurposing Former Bank Branch Opportunity 14801 E 12 Mile Rd 2,157 SF Vacant Retail Building Online Auction Sale Warren, MI 48088
INVESTMENT HIGHLIGHTS
- Former bank branch facility with allowed uses for many retail users, whether QSR drive-thru, gas station, or oil service station.
- Two-lane drive-thru, freestanding building ready to accommodate various commercial operations and serving a built-in consumer base.
- Surrounding demand generators include Wendy’s, AMF Bowling, Tim Hortons, Family Dollar, Taco Bell, CVS, Kroger, and more.
- Northwest corner of 12 Mile Road and Gloede Road, with easy access to both, boasting a combined daily vehicle count surpassing 26,800.
- Across from the Macomb Community College campus, where more than 16,000 students are enrolled, and visiting the campus.
EXECUTIVE SUMMARY
As the exclusive advisor, Landmark Commercial is pleased to present the 2,157-square-foot, freestanding commercial building located at 14801 E 12 Mile Road in Warren, Michigan, for commercial repurposing. As a former bank branch facility, the property features a two-lane drive-thru, prominent signage, large glass wraparound windows, plentiful surface parking, and multiple points of ingress/ egress.
The subject is located next to the Wayne State University Advanced Technology Education Center and adjacent to Macomb Community College, providing an immediate built-in customer base for the next commercial operations to serve. The building’s signage is highly visible, being at the signalized intersection of 12 Mile Road and Glode Drive, exposed to more than 26,800 combined daily passing vehicles. Shopping and dining options are concentrated along 12 Mile Road. Tech Plaza on 12 Mile is a hotspot with DSW, Old Navy, and Walmart. Several small and large restaurants are nearby, like City Burger, a beloved local favorite.
14801 E 12 Mile Road is situated within a thriving demographic pool, as evidenced by the growing population of 331,673 residents within a 5-mile radius. Household counts are expected to grow by 0.2% by 2029. The realm generates more than $3.6 billion annually in consumer spending, with entertainment, food and beverages, households, and transportation accounting for returns of more than $5 million, respectively.
14801 E 12 Mile Road is an untapped cash-cow asset, awaiting repurposing to generate a strong return on investment. Don’t miss the opportunity to invest in an ideally located commercial building adjacent to educational institutions and surrounded by dense neighborhood housing.
The subject is located next to the Wayne State University Advanced Technology Education Center and adjacent to Macomb Community College, providing an immediate built-in customer base for the next commercial operations to serve. The building’s signage is highly visible, being at the signalized intersection of 12 Mile Road and Glode Drive, exposed to more than 26,800 combined daily passing vehicles. Shopping and dining options are concentrated along 12 Mile Road. Tech Plaza on 12 Mile is a hotspot with DSW, Old Navy, and Walmart. Several small and large restaurants are nearby, like City Burger, a beloved local favorite.
14801 E 12 Mile Road is situated within a thriving demographic pool, as evidenced by the growing population of 331,673 residents within a 5-mile radius. Household counts are expected to grow by 0.2% by 2029. The realm generates more than $3.6 billion annually in consumer spending, with entertainment, food and beverages, households, and transportation accounting for returns of more than $5 million, respectively.
14801 E 12 Mile Road is an untapped cash-cow asset, awaiting repurposing to generate a strong return on investment. Don’t miss the opportunity to invest in an ideally located commercial building adjacent to educational institutions and surrounded by dense neighborhood housing.
OFFERING MEMORANDUM Click Here to Access
DATA ROOM Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Miscellaneous
MARKET ANALYTICS Click Here to Access
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Bank
Building Size
2,157 SF
Building Class
C
Year Built
1985
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.48 AC
Parcel Number
12-13-12-453-003
Zoning
C-1 - Commercial
Parking
20 Spaces (9.27 Spaces per 1,000 SF Leased)
Frontage
140’ on 12 Mile Rd
AMENITIES
- Signage
- Drive Thru
ABOUT MACOMB WEST
Centered around the cities of Warren and Sterling Heights, the third and fourth most populous cities in Michigan, the Macomb West neighborhood largely comprises single-family homes, with many neighborhoods often described as hidden gems. The neighborhood is bounded to the north by the top-rated 4,400-acre Stony Creek Metropark and traversed by both Clinton River Park North and River Bends Park.
Some of the area’s top employers include General Motors, TACOM, and Fiat Chrysler. The 710-acre General Motors Technical Center campus and the U.S. Army Detroit Arsenal, the only active-duty military installation in Michigan, are next to the juncture of Interstate 696 and Van Dyke. The locally dubbed “Golden Corridor” runs through portions of Macomb West and has world-class retail and dining, major educational facilities, a minor league baseball park, and a performing arts center.
Fundamentals for the retail sector have remained strong within Macomb West, especially general retail and strip centers. With consistently low vacancy rates, Macomb West has seen positive asking rent growth.
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
11,784
129,043
331,673
2020 Population
12,142
131,974
335,637
2029 Population
11,616
127,395
327,910
2024-2029 Projected Population Growth
-1.4%
-1.3%
-1.1%
Daytime Employees
7,072
69,247
138,856
Total Businesses
574
5,460
13,982
Average Household Income
$83,237
$74,887
$73,308
Median Household Income
$66,807
$59,125
$58,237
Total Consumer Spending
$146.9M
$1.5B
$3.6B
Median Age
43.0
41.0
40.2
2024 Households
5,073
53,402
134,854
Percent College Degree or Above
14%
12%
12%
Average Home Value
$172,780
$164,983
$173,050
$ values in USD
NEARBY MAJOR RETAILERS
SALE ADVISORS
SALE ADVISORS
Jack Melton, Investment Advisory Services
Jack Melton joined Colliers as a National Investment and Capital Markets Advisor specializing in the acquisition and disposition of stabilized and value-add properties across the U.S. With a track record of helping clients maximize value through strategic repositioning, sale-lease backs, net lease, auction sales, tenant advisory services, development and targeted leasing, I work closely with private investors, developers, and institutional groups to execute tailored investment strategies that align with market trends and long-term goals.
Alessandro Bortolotti, Associate
Graduate of Michigan State University with a Bachelor of Arts degree in Organizational Leadership. After a successful experience in the medical sales industry, He decided to pursue his lifelong passion to become a retail commercial real estate broker. “Sandro” is an excellent communicator and understands how to build relationships through consistent performance and a strong work ethic. As Landmark’s newest associate, Alessandro will focus on shopping center leasing, retail tenant representation, land acquisitions, and investment sales while working directly with Landmark’s seasoned professionals.
Louis Ciotti, Managing Director
Louis J. Ciotti has been an integral part of the real estate industry since 2005. He has successfully represented owners, investors, developers, tenants, banks and capital funds. Louis’ successful concentration in the investment sales arena earned him the title of “Senior Director” of Landmark Investment Sales. Throughout the course of his career he has maintained a strong, loyal work ethic that his clients consistently depend on. His persistence, high-ethical moral standards have made him a “go to” trusted broker to his clients. Louis’ business dealings have grown nationwide with completed transactions in over 15 states which include retail tenant representation, big box retail requirements, investment sales, and Note sales through financial institutions.
Louis is someone you want to work with to help facilitate your needs and to best guide you through the challenges of transactions. He has the ability to recognize client’s objectives and develop strategies to achieve them, resulting in a network of satisfied clients.
Louis is someone you want to work with to help facilitate your needs and to best guide you through the challenges of transactions. He has the ability to recognize client’s objectives and develop strategies to achieve them, resulting in a network of satisfied clients.
ABOUT THE AUCTION TECHNOLOGY
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
Read More
AUCTION CONTACT
Taylor Cunningham
Contact
Auctioneer License:
Ten-X, LLC Arlene Richardson RE Brkr 6505431586
CONTACTS
-
Jack Melton -
Alessandro Bortolotti -
Louis Ciotti -
Landmark Commercial RE Services
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MATTERPORT 3D EXTERIOR
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PHOTOS
STREET VIEW
STREET
MAP
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000 USD
Maximum Transaction Fee
$300,000 USD
Example Calculation
Winning Bid Amount
$5,000,000 USD
Transaction Fee
$150,000 USD (3%)
Total Purchase Price
$5,150,000 USD
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Repurposing Former Bank Branch Opportunity | 14801 E 12 Mile Rd
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