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35000 W Warren Rd
Westland, MI 48185
Kohl's Ground Lease w/over 11 Years Remaining · Retail Property For Sale
Investment Highlights
- Kohl’s recently renovated in 2021, showcasing its commitment to the site
- This location includes an in-store Sephora, which enhances cross-traffic and broadens customer demographics
- Located at the signalized corner of Warren Road and Wayne Road, the property boasts 60,000 VPD, offering unmatched visibility and accessibility
- Inflation hedge increases every 5 years & no landlord responsibilities
- Over 814,000 residents and an average household income exceeding $92,000 create a powerful consumer base, driving demand & long-term retail stability
- With 800'+ of frontage along 2 major roads, the property offers prominent pylon & monument signage to enhance tenant visibility & consumer recognition
Executive Summary
The subject property is a single tenant Kohl's under an absolute triple-net, corporate guaranteed ground lease. The store occupies 90,860 square feet and has eleven years remaining on its lease, with four, 5-year option periods remaining. This location is the number four most visited store in the state of Michigan.
The property is well located in a prime high-traffic location at the signalized corner of Warren Road and N. Wayne Road and boasts 60,000+ VPD, offering unmatched visibility and accessibility.
A variety of national and credit tenants are within close proximity including Walmart Supercenter, Target, Lowe's, Home Depot, Dick's Sporting Goods, Meijer and Best Buy.
The property is well located in a prime high-traffic location at the signalized corner of Warren Road and N. Wayne Road and boasts 60,000+ VPD, offering unmatched visibility and accessibility.
A variety of national and credit tenants are within close proximity including Walmart Supercenter, Target, Lowe's, Home Depot, Dick's Sporting Goods, Meijer and Best Buy.
Property Facts Under Contract
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Department Store
Building Size
90,860 SF
Building Class
B
Year Built/Renovated
1987/2021
Price
$19,012,001 CAD
Price Per SF
$209.24 CAD
Cap Rate
8.11%
NOI
$1,542,756 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
8.35 AC
Opportunity Zone
Yes
Zoning
CB-3 - General Commercial Business District
Parking
227 Spaces (2.5 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Security System
- Signage
- Monument Signage
Property Taxes
| Parcel Number | 56-015-99-0011-704 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $4,216,721 CAD |
Property Taxes
Parcel Number
56-015-99-0011-704
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$4,216,721 CAD
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