For Sale
$1,680,000

6555 Newburgh Rd Westland, MI 48185

High-yield NNN auto shop, 20-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
131
This exceptional investment opportunity presents a 1,452 square foot Take 5 Oil Change located at 6555 N Newburgh Rd, Westland, MI 48185. The property sits on a 0.56-acre lot and boasts a strong 6.25% cap rate, generating a net operating income (NOI) of $105,000 annually. The property is subject to a 20-year triple-net (NNN) lease, commencing upon closing, with a corporate guarantee from Drive Funding Holdco, LLC, a company with over 3,500 units. This ensures minimal landlord responsibilities and provides significant financial security. The lease includes annual rent increases of 1.50%, further enhancing the investment's long-term value. Built in 2024, the building is currently 100% occupied. The lease also features four, five-year renewal options, extending the potential lease term to a total of 40 years. This turnkey investment offers a compelling combination of strong tenant, long-term lease, and attractive financial returns, making it an ideal addition to any portfolio. The asking price for this exceptional property is $1,680,000.

Property Details for 6555 Newburgh Rd

Property type
Retail properties, Auto shops
Square Feet
1,452 SF
Year Built
2024
Lot Size (sq. ft)
24,394 SF

Location Insight

City
Westland
County
Wayne
State
Michigan
Latitude
42.3319732
Longitude
-83.4114463

FAQs

What type of property is this?
Retail property - High-yield NNN auto shop, 20-year lease.
Where is the retail property located?
The property is located at 6555 Newburgh Rd Westland, MI.
What is the asking price?
The asking price for this property is $1,680,000.
How can I contact the broker?
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6555 Newburgh Rd
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