5541 Sashabaw RdIndependence charter Township, MI 48346

Property Details for 5541 Sashabaw Rd

Year built

2007

Property size (Sq ft)

4,397 SF

Zone code

C-2

Property type

Commercial real estate

APN

J -08-27-603-001

APU

J0827603001

Description

This exceptional investment opportunity presents a 4,397 square foot Chase Bank branch located at 5541 Sashabaw Road, Clarkston, MI 48346. The property sits on a 1.14-acre lot and is situated in a high-traffic area with strong demographics, boasting an average household income exceeding $125,000 within a 3-mile radius. The property features a drive-thru and benefits from its proximity to numerous national retailers such as Kroger, CVS, Wendy's, and McDonald's. This is a Net Lease (NNN) property with a corporate guarantee from JP Morgan Chase Bank, N.A., a globally recognized financial institution with over 4,700 locations. The lease commenced July 15, 2007, and has a remaining term of approximately 9.6 years, expiring June 18, 2034. The lease includes four five-year options with 10% rent increases in each option period. The asking price is $2,262,700, representing a cap rate of 6.00% and a price per square foot of $514.60. The property's Net Operating Income (NOI) is $135,762, reflecting a 100% occupancy rate. Built in 2007, the single-building property is zoned CM and represents a secure, passive income stream with minimal landlord responsibilities. The tenant recently extended their lease for 10 years in June 2024, demonstrating a strong commitment to the location. This is an absolute NNN ground lease.

• Alternative Use

  Use

  Valuation

  Residential

  $861,567

  Hospitality

  $789,191

  Educational

  $656,598

  Medical

  $679,179

  Retail

  $1,021,374

Location Insight

City

Clarkston

County

Oakland

State

Michigan

Latitude

42.7194

Longitude

-83.3791

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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