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22054-22128 Farmington Rd
Farmington Hills, MI 48336
Farmington Crossroads · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Strong Reported Historical Tenant Performance with Long Term Stability
- Hard Corner Outlot Value-Add Development Opportunity
- High-Density, High-Income Trade Area with Significant Traffic Counts
- Established Tenancy with National Credit and Essential Daily Service Focus
- Professional Management & Recent Capital Improvements
EXECUTIVE SUMMARY
Landmark Investment Sales is pleased to exclusively offer for sale Farmington Crossroads, a 100% occupied neighborhood shopping center located at the signalized intersection of Farmington Road (20,546 VPD) and 9 Mile Road (7,647 VPD) in Farmington, Michigan just off M5 expressway (24,937 VPD). The center is anchored by Ollie’s Bargain Outlet, True Value Hardware and Dollar Tree and features a strong tenancy mix of daily needs service users and very high-sales volume restaurants Rainbow Restaurant ($516 psf), Sushi House ($325 psf) and Peterliln’s ($337 psf). The asset provides opportunity for densification with the ability to add an outlot on the hard corner offering future development potential ideal for freestanding retail or a QSR. This investment represents an attractive significantly below replacement cost stabilized retail asset for investors seeking strong in place income with a value-add upside component and a proven long term tenant mix in a dense high income suburban Detroit Submarket.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Building Size
85,168 SF
Building Class
B
Year Built/Renovated
1986/2008
NOI
$1,276,251 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.26
Lot Size
7.46 AC
Zoning
BI - General Business District
Parking
363 Spaces (4.26 Spaces per 1,000 SF Leased)
PROPERTY TAXES
| Parcel Number | 23-34-101-010 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $5,009,384 CAD |
PROPERTY TAXES
Parcel Number
23-34-101-010
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$5,009,384 CAD
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