For Sale
$13,647,179

10800 Assembly Park Dr Wixom, MI 48393

Michigan Furniture Store, Long-Term Lease

Overview

Added:
Dec 11, 2024
Days on market:
130
This exceptional investment opportunity presents a fee-simple interest in a 109,306-square-foot At Home furniture store located at 10800 Assembly Park Dr, Wixom, MI 48393. The property sits on an 8.86-acre lot and boasts a strong 9.50% cap rate with a substantial NOI of $1,296,482. Built in 2017, this single-story building operates under an absolute NNN lease with At Home, eliminating all landlord responsibilities. The lease, commencing July 3, 2018, and expiring July 31, 2034, has a remaining term of approximately 9.7 years, providing significant long-term cash flow. The lease includes annual rent increases of 2%, ensuring consistent growth. Four 5-year lease options further enhance the investment's stability and potential. This prime retail location in Oakland County, Michigan, benefits from excellent access and visibility within a dominant commercial corridor, serving a dense and affluent demographic. The asking price is $13,647,179, representing a compelling opportunity for investors seeking a passive, high-yield asset with substantial remaining lease term and built-in rent growth. The property's 100% occupancy further solidifies its value and attractiveness.

Highlights

  • Fee-simple ownership of a 109,306-square-foot At Home furniture store on an 8.86-acre lot in Wixom, MI.
  • Absolute NNN lease with At Home, expiring July 31, 2034 (approx. 9.7 years remaining).
  • Strong 9.50% cap rate and $1,296,482 NOI.
  • Prime retail location in Oakland County with excellent access and visibility.
  • Asking price: $13,647,179.

Property Details for 10800 Assembly Park Dr

Property type
Retail properties, Retail space
Square Feet
109,306 SF
Year Built
2017
Buildings
1
Stories
1
Lot Size (sq. ft)
385,942 SF

Location Insight

City
Wixom
County
Oakland
State
Michigan
Latitude
42.5005234
Longitude
-83.5391668
10800 Assembly Park Dr, Wixom, Michigan

FAQs

What type of property is this?
Retail property - Michigan Furniture Store, Long-Term Lease
Where is the retail property located?
The property is located at 10800 Assembly Park Dr Wixom, MI.
What is the asking price?
The asking price for this property is $13,647,179.
What are key features of this property?
This property features: Fee-simple ownership of a 109,306-square-foot At Home furniture store on an 8.86-acre lot in Wixom, MI.; Absolute NNN lease with At Home, expiring July 31, 2034 (approx. 9.7 years remaining).; Strong 9.50% cap rate and $1,296,482 NOI.
How can I contact the broker?
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10800 Assembly Park Dr
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