The Learning Experience – Novi, MI

$4,320,833
Price
$311,100
Noi
7.20%
Cap Rate
10,000
Leasable Area
2019
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present a brand new (2019) built-to-suit “The Learning Experience, located in the Detroit suburb of Novi, MI. This 10,000 SF state of the art facility operates on a 17 year double net (NN) lease, leaving minimal landlord responsibilities, as the landlord is only responsible for the capital repair and replacement to the roof, structure, and parking lot, etc. The Tenant (TLE) is responsible for maintaining the interior of the structure, along with the reimbursement for Common Area Maintenance, Insurance, and Taxes.

The subject property is strategically positioned within the main retail hub of Novi, if not the surrounding 3-4 communities, with the main attraction being the 1.5 Million SF Twelve Oaks Mall. Developing nearby is the brand new Adell Center, the center of entertainment in Novi featuring many upscale tenants. TLE sits adjacent to 4 hotel properties, as well as the Walmart anchored Novi Town center. The The five mile population within the subject site exceeds 160,000, while the average household income within five miles is greater than $114,000. Expected consumer retail annual spending within 5 miles in excess of $1.95 Billion. List price reflects a 7.20% cap rate.

INVESTMENT HIGHLIGHTS
• Brand New “The Learning Experience” | BTS 2019 Construction
• Long Term Double Net (NN) Lease, Minimal Responsibilities
• 5 Mile Pop Exceeds 160,000 | 5 Mile Income Average of $114K
• $1.95 Billion in Annual Consumer Spending within 5 Miles
• Daily Traffic Counts at nearest major intersection over 58,000!
• Adjacent To Walmart, TJ Maxx, Hobby Lobby, Twelve Oaks Mall