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La Mirage Shopping Center 29555 Northwestern Hwy 39,390 SF 100% Leased Retail Building Southfield, MI 48034 $8,098,962 CAD ($205.61 CAD/SF) 9.44% Cap Rate
Investment Highlights
- Fully leased retail strip center with 13 tenants
- Located on high-traffic Northwestern Hwy (45,000+ VPD)
- Zoned B-3 with versatile retail usage potential
- Anchored by Guitar Center with long-term lease
- Surrounded by affluent demographics and dense population
Executive Summary
La Mirage is a 100% occupied, stabilized retail investment offered free and clear of existing financing at a 9.4% cap rate based on Year 1 NOI of $561,669. This offering presents the opportunity to acquire a Guitar Center–anchored property where the tenant has successfully operated since 1999 and recently exercised an early lease extension with a built-in rent increase, reinforcing its long-term commitment and enhancing the stability of the investment opportunity.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
39,390 SF
Building Class
C
Year Built/Renovated
1979/2010
Price
$8,098,962 CAD
Price Per SF
$205.61 CAD
Cap Rate
9.44%
NOI
$764,527 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.30
Lot Size
3.00 AC
Opportunity Zone
Yes
Zoning
B-3 - Commercial Zoned District
Parking
180 Spaces (4.57 Spaces per 1,000 SF Leased)
Frontage
334’ on Northwestern Hwy
Amenities
- Pylon Sign
- Signage
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
- Smoke Detector
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
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$9.99
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Lorem Ipsum
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Jan 0000
Everything from clothes, leashes, toys, beds, carriers, treats, food books, collars, and of course puppies. These are one of a kind items for your one of a kind doggy that you won’t find at your everyday pet store. We have plenty of references to tell you a little about how our little guys and girls are prepared before they are sent off in their new home with you.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
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Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 24-07-351-098 | Improvements Assessment | $1,790,216 CAD |
| Land Assessment | $443,129 CAD | Total Assessment | $2,233,345 CAD |
Property Taxes
Parcel Number
24-07-351-098
Land Assessment
$443,129 CAD
Improvements Assessment
$1,790,216 CAD
Total Assessment
$2,233,345 CAD
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La Mirage Shopping Center | 29555 Northwestern Hwy
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