KOHL’S | 13 Years NNN Ground Lease | Detroit MSA

  • $16,994,214
35000, Warren Road, Westland, Wayne County, Michigan, 48185, United States of America

KOHL’S | 13 Years NNN Ground Lease | Detroit MSA

35000, Warren Road, Westland, Wayne County, Michigan, 48185, United States of America
  • $16,994,214

Overview

Property ID: 18531
  • Property Type
  • Retail Properties
  • 90860
  • sqft
  • 1996
  • Year Built

Description

KOHL’s departmental store in Westland Shopping Centre is available on 13 years NNN Ground Lease. The property is located in Westland, Michigan, which is approximately 20 miles away from Detroit city. The store was constructed in 1996. It is built over an area of 90,860 sq.ft, whereas the total area of the land on which it sits is 8.34 acres. Westland Shopping Centre is a busy spot, and more than 67,000 vehicles cross this location every day. The stores in the shopping complex receive customers from Westland as well as areas like Detroit and Metro Detroit. The presence of more than 113 stores in the vicinity makes it one of the busiest localities in this part of the state. KOHL’s has extended the lease expiration to 13 years because of a successful history of this location. The property is given under an Absolute Net Lease where the landlord has no day-to-day responsibilities. Rent increases every five years.

This investment property is suitable for a 1031 exchange. 

Project & Lease Details – 

  • Property Type – Retail Property
  • Property Status – Available
  • Location – 35000 Warren Road, Westland Michigan, 48185 (20 miles away from Detroit)
  • Year of Construction – 1996
  • Lease Type – Ground Net Lease
  • Property Size – 90,860 sq.ft
  • Total complex area – 8.34 acres
  • Rent Hike – Every 5 Years
  • Lease Expiration – 12 years 9 Months
  • Main Retail Corridor with Large Retail Presence

Details

Updated on April 14, 2020 at 9:19 am
  • Price: $16,994,214
  • Property Size: 90860 sqft
  • Year Built: 1996
  • Property Type: Retail Properties
  • Property Status: Available
  • Cap Rate: 6.40%
  • Lease Expiration: 12 years 9 months
  • NOI: $1,086,000
  • Tenant: Warren Rd
  • Address 35000, Warren Road, Westland, Wayne County, Michigan, 48185, United States of America
  • City Westland
  • State/county Wayne County
  • Zip/Postal Code 48185

Features

Contact Information

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Ronnie Issenberg
  • Ronnie Issenberg

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