Broadway Shopping Center

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Broadway Shopping Center

1760 Plymouth Rd Ann Arbor MI Washtenaw County

Sales Price: $4,420,523

Cap Rate: 6.50%

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

Description:

  • EXCEPTIONAL LOCATION / UNIVERSITY OF MICHIGAN, NORTH CAMPUS:
    The subject property is adjacent to the University of Michigan North Campus. The University of Michigan boasts over 45,000 students at their Ann Arbor Campus, and is within a 5 minute walk of Bursley Hall Dormitory (1,300 students), and Courtyard Apartments (896 bedrooms)
  • LONG TERM TENANCY:
    80% of the rent roll expires 2030/2031 offering ownership long term tenant stability at this site.
    90% of the tenants have been operating in the center for 10+ years
  • INTERNET RESISTANT TENANTS:
    The shopping center is comprised of service tenants at the site which caters well to the surrounding student population.
  • ATTRACTIVE LEVERAGED RETURNS, VALUE-ADD POTENTIAL:
    The current capital markets will give investors different options for achieving attractive leveraged returns.
  • CANNABIS LICENSE:
    The cannabis license of Cloud Cannabis Co. stays with the property and not the operator should the tenant ever vacate.

Building Size: 12,000 SF

Lot Size: 1.52 AC

Zoning: Commercial

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 14,723 90,297 155,777
Avg. HH Income: $63,571 $113,772 $108,144
Daytime Population: 8,662 58,648 116,141

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.