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35372 Van Dyke Ave 5,548 SF 100% Leased Retail Building Sterling Heights, MI 48310 $4,705,723 CAD ($848.18 CAD/SF) 6.50% Cap Rate
Investment Highlights
- Built in 2020 with a modern design and minimal anticipated capital requirements.
- Tenants cover taxes, insurance, CAM, HVAC, and maintenance, reducing landlord exposure.
- Located within a dominant retail hub surrounded by major national retailers and high residential density.
- Fully leased to Aspen Dental and Charley’s Cheesesteaks & Wings, both nationally recognized brands.
- Situated along Van Dyke Avenue, offering strong traffic counts and regional freeway access.
- Positioned in Metro Detroit’s robust retail market, known for sustained consumer demand.
Executive Summary
This modern, 5,548-square-foot multi-tenant retail center, built in 2020, offers investors a low-maintenance property with solid curb appeal and minimal near-term capital expenditures. The asset is fully leased to two creditworthy, nationally recognized tenants—Aspen Dental and Charley’s Cheesesteaks & Wings—providing stable income streams and long-term occupancy security. Current leases include favorable terms such as annual increases and minimal landlord responsibilities, boosting overall cash flow predictability.
Positioned on Van Dyke Avenue (M-53), one of Macomb County’s prime commercial corridors, this property benefits from high daily traffic counts, strong regional connectivity, and excellent visibility from a dominant retail trade area. Well-established surrounding retailers including Walmart, Meijer, Home Depot, and multiple dining options further enhance its draw. The center serves a dense suburban community with over 8,650 residents and household incomes averaging $82,000 within a one-mile radius. With continued population growth and increased consumer activity in Metro Detroit, this is a strong opportunity for long-term investment in a resilient retail sector.
Positioned on Van Dyke Avenue (M-53), one of Macomb County’s prime commercial corridors, this property benefits from high daily traffic counts, strong regional connectivity, and excellent visibility from a dominant retail trade area. Well-established surrounding retailers including Walmart, Meijer, Home Depot, and multiple dining options further enhance its draw. The center serves a dense suburban community with over 8,650 residents and household incomes averaging $82,000 within a one-mile radius. With continued population growth and increased consumer activity in Metro Detroit, this is a strong opportunity for long-term investment in a resilient retail sector.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
5,548 SF
Building Class
C
Year Built
2020
Price
$4,705,723 CAD
Price Per SF
$848.18 CAD
Cap Rate
6.50%
NOI
$305,872 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.10
Lot Size
1.31 AC
Zoning
CM
Parking
50 Spaces (9.01 Spaces per 1,000 SF Leased)
Frontage
180’ on Van Dyke Avenue
Amenities
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 10-10-27-300-052 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,111,873 CAD |
Property Taxes
Parcel Number
10-10-27-300-052
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,111,873 CAD
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35372 Van Dyke Ave
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