Success Virtual Learning Center – Hazel Park, MI

$488,542
Price
$46,412
Noi
9.5%
Cap Rate
3,935
Leasable Area
1930
Year Built

CONTACT US REGARDING THIS LISTING

John McNew

Senior Advisor

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 3,935 SF Success Virtual Learning Center, located in Hazel Park, Michigan. There are 1.75 years remaining on the original 5 year lease. The lease features 2 (5-year) options to renew each with 7 percent rent increase.

Located in a prime retail area, Success Virtual Learning is positioned right off of 9 mile and John R Road. The surrounding shopping centers feature many national retailers, and the surrounding street retail features both national tenants and strong local tenants. The surrounding area has nearly 400,000 residents within five miles of the subject property. The median home value within 5 miles exceeds $126,000 and the average household income is over $59,000.

The property has a clean Phase I Environmental Report, and the roof was fully replaced in 2017. ALTA Survey, Phase I Environmental Report, and Property Condition Assessment Report are all available.

INVESTMENT HIGHLIGHTS
• 2 (5 Year) Options to Renew | 7% Rental Increases at Each Option
• 5 Mile Household Income $59,566
• 5 Mile Population 388,592
• Daily Traffic Counts at nearest major intersection over 22,000!
• 5 Mile Consumer Spending $3.178 Billion