Bob’s Discount Furniture

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Bob’s Discount Furniture

280 Brown Rd Auburn Hills MI Oakland County

Sales Price: $5,709,000

Cap Rate: 6.25%

Lease Expiration: 11/30/2032

Contact Person(s): Daniel Kukes
Kevin Baker
Jason Greenspan
Maxwell Lippitt

Description:

STRONG RETAIL LOCATION

  • The subject property sits adjacent to Best Buy and a well performing Costco.
  • Other big box retailers anchor the corridor including Target, Sam’s Club, Home Depot, Menards, ALDI, and a new 2-hotel development.
  • Bob’s Discount Furniture sits across from Great Lakes Crossing Outlet Mall – one of Michigan’s best performing regional malls.

FINANCIALLY STRONG TENANT

  • Bob’s Discount Furniture is ranked 12th in sales among United States furniture stores according to Furniture Today’s list of Top 100 Furniture Stores. 2020 revenue reached over $972M, with store count exceeding 135 units.

HIGH TENANT DEMAND

  • Several big box users have expressed interest in this coveted retail corridor, creating high demand for this location in the future.

LONG TERM LEASE WITH MINIMAL LANDLORD RESPONSIBILITIES 

  • Tenant is operating under a 12 year lease with rent increases.

EASY ACCESS OFF OF I-75

  • Subject property has easy access to I-75 (93,800 cars per day) through Brown and Joselyn Roads.
  • I-75 remains one of Metro Detroit’s busiest highways.

Building Size: 20,389 SF

Lot Size: 2.30 acres

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 1,390 39,387 134,426
Avg. HH Income: $94,641 $83,081 $91,450

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.