Grand River Marketplace | Dollar Tree (S&P BBB) Anchored

21310-21370 Grand River Avenue Detroit, MI 48219

FOR SALE
Property Type:
Strip Center
Amount:
$4,882,000
Last Verified:
Sep 21, 2022

Highlights

  • 2016 NEWER CONSTRUCTION | 100% OCCUPIED | 3.14 TOTAL ACRES
  • 2-TENANT STRIP + FREESTANDING NNN METRO BY T-MOBILE
  • ALL TENANTS OPERATING ON NNN LEASES WITH OPTION PERIODS
  • FEATURES RENT INCREASES IN OPTION PERIODS FOR ALL TENANTS
  • DOLLAR TREE (S&P BBB) AND SNIPES USA (JAKO ENTERPRISES)
  • FREESTANDING METRO BY T-MOBILE INCLUDED ON SEPARATE PARCEL
  • METRO BY T-MOBILE IS A CORPORATE STORE | CORP GUARANTEE
  • 1 +/- ACRE OF EXCESS LAND INCLUDED FOR FUTURE DEVELOPMENT
  • ADJACENT TO NEW MEIJER SUPERSTORE | ONE OF TWO IN CITY
  • GREAT VISIBILITY AND EXPOSURE ON GRAND RIVER AVE | 24K VPD
  • 130K PEOPLE IN 3-MILE RADIUS | 336K PEOPLE IN 5-MILE RADIUS
  • VIBRANT AND DENSE AREA | OVER 133K HOUSEHOLDS IN 5-MILE RADIUS
  • LOCATED IN DETROIT | LARGEST CITY IN MICHIGAN | 23RD IN USA
  • NOTABLE RETAILERS IN IMMEDIATE VICINITY INCLUDE: MEIJER, MCDONALD’S, WENDY’S, KFC, BURGER KING, FAMILY DOLLAR, AUTOZONE, CVS PHARMACY AND MORE.

Description

Jonna Group at Colliers has been selected to exclusively represent the sale of Grand River Marketplace, a newer 2016 construction, two-tenant strip plaza located in Detroit, Michigan. The subject site includes notable tenants Dollar Tree (S&P BBB) and Snipes USA both operating on NNN leases. This offering also includes a freestanding NNN Metro by T-Mobile that has 5 years remaining on their original lease. The Metro by T-Mobile is strategically located on a separate parcel and affords a new buyer the option to sell separately if need be. The strip plaza spans 15,894-square feet while the single-tenant Metro by T-Mobile consists of 2,108-square feet totaling 1.62 acres. Mr. Alan’s Elite was recently acquired by Snipes (now dba Jako Enterprises), that operates 95 stores around the country. Jako Enterprises is a subsidiary of Deichmann SE, the global company that operates over 3,800 stores with over 38,000 employees.

Grand River Marketplace is strategically situated with high visibility and exposure on Grand River Avenue, which sees over 24,000 vehicles per day. The subject site is adjacent to a Meijer Superstore, one of only two Meijer's in the entire city of Detroit. The location benefits from being well-positioned in a dense retail corridor and surrounded by many other notable retailers in the immediate vicinity that include: McDonald’s, Wendy’s, KFC, Burger King, Family Dollar, AutoZone, CVS Pharmacy and many more.

The subject site has of over 343,000 people in a five-mile radius and over 133,000 households in a five-mile radius making it a dense and stellar market area. The subject site is located in Detroit, Michigan, the largest city in Michigan and the 23rd largest city in the United States. Several major corporations are based in the city, including three Fortune 500 companies. The most heavily represented sectors are manufacturing (particularly automotive), finance, technology, and health care. The most significant companies based in Detroit include General Motors, Quicken Loans, Ally Financial, Compuware, Shinola, American Axel, Little Caesars, DTE Energy, Lowe Campbell Ewald, Blue Cross blue Shield of Michigan and Rossetti Architects. Aside from the numerous Detroit-based companies listed above, Detroit contains large offices for Comerica, Chrysler, HP enterprise, Deloitte, PricewaterhouseCoopers. KPMG, and Ernest & Young.


Year Built: 2016
Building Size: 18002sq ft
Lot Size: 3.14 acres

Map of 21310-21370 Grand River Avenue, Detroit, MI, 48219

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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