Woodhaven Place

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Woodhaven Place

23382 Allen Rd Woodhaven MI Wayne County

Sales Price: $4,212,325

Cap Rate: 6.75%

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

Description:

SERVICE DRIVEN/INTERNET RESISTANT TENANCY:

  • 85% of the rent roll is comprised of “essential businesses” in which all tenants stayed open and operated successfully during the Covid-19 pandemic.
  • Checkers has a dedicated drive-thru lane while the rest of the tenants benefit from 80+ dedicated parking spaces.

EXCELLENT RETAIL LOCATION:

  • The subject property is an outlot to both a Walmart Supercenter and a high-performing Home Depot.
  • Other surrounding retailers include Target, Lowe’s, Meijer, Aldi, Chick-Fil-A, Kohl’s, Panda Express, Ulta, LA Fitness, Five Below, etc.
  • The property has frontage directly on Allen Rd (26,200 CPD), and sits adjacent to the main curb cut into the Home Depot/Walmart anchored power center.

NEWER CONSTRUCTION/RENOVATIONS:

  • The building was extensively re-developed from a medical office building and repurposed into a strip center in 2019.

Building Size: 9,662 SF

Lot Size: 1.43 AC

Tenant Roster: Qdoba Mexican Eats, Checkers, Lefty's Cheesesteaks, Crumbl Cookies & Bellagio Nails & Spa

Traffic Count: Allen Rd (26,200 CPD)
West Rd (36,700 CPD)

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 5,362 56,261 131,484
Avg. HH Income: $89,549 $90,330 $89,670
Daytime Population: 4,724 17,002 42,620

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.