2218-2258 Milford RdHighland, MI 48357

Property Details for 2218-2258 Milford Rd

Year built

1998

Lot size

4.71 AC

Property size (Sq ft)

17,840 SF

Property type

Retail properties

Property subtype

Restaurants

Description

Mavericks Landing, a thriving 17,840 square foot restaurant center in Highland, Michigan, presents a compelling investment opportunity. This fully occupied (100%) property boasts a strong 6.20% capitalization rate and a substantial net operating income (NOI) of $218,000. Located at 2218-2258 S Milford Rd, this prime retail space is situated on a 4.71-acre lot and offers ample parking with 105 spaces. Built in 1998, the building features a triple-net (NNN) lease structure, ensuring low rental rates and minimal landlord responsibilities. The property benefits from its high-traffic location directly across from Milford High School, providing excellent visibility and consistent customer flow. The tenant mix includes established and popular businesses such as Leo's Coney Island, Tropical Smoothie, and Cottage Inn Pizza, contributing to the property's consistent performance. The asking price is $3,480,000, translating to a price per square foot of $195.07. The property's location in Oakland County, Michigan, near various amenities and residential areas, further enhances its investment appeal. This is a rare opportunity to acquire a well-maintained, high-performing restaurant center with a proven track record of success. The property's parcel number is 11-34-101-022.

Location Insight

City

Highland

County

Oakland

State

Michigan

Latitude

42.6189

Longitude

-83.6168

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