Sherwin-Williams

45295 Grand River Ave Novi, MI 48375

FOR SALE
Property Type:
Warehouse
Amount:
$1,597,000
Last Verified:
Sep 21, 2022


Description

Jonna Group at Colliers International has been selected to exclusively represent for sale the corporate Sherwin-Williams located in affluent Novi, Michigan. Sherwin-Williams is operating on a double-net lease with minimal landlord responsibilities and has approximately 4.7 years remaining of term. The lease features two five-year options that include rent increases in each option period. This unique Sherwin-Williams is a commercial paint store that serves professionals and contractors. It is nearly double the size of a typical retail Sherwin-Williams footprint. Sherwin-Williams has long term occupancy of over 30 years at subject site and contains below market rents at $8.19 PSF.

The subject property is located in Novi, Michigan, one of the fastest growing cities in Michigan. This Sherwin-Williams location is the only one located in the city with limited immediate competition. The property benefits from being in a dense residential and retail corridor with strong demographics including over 139,000 people in a five-mile radius and average household income of over $123,000, more than double the national average. Several retailers in the immediate vicinity include: Home Depot, Walmart, FedEx, Kroger, Sam’s Club, Kohl’s, Macy’s, TJ-Maxx, Marshall’s, Five Below, Advance Auto Parts, O’Reilly Auto Parts, Hobby Lobby, Dick’s Sporting Goods, Michael’s, and many more.

The subject property is located in Novi, Michigan, one of the fastest growing cities in Michigan. This Sherwin-Williams location is the only one located in the city with limited immediate competition. The property benefits from being in a dense residential and retail corridor with strong demographics including over 139,000 people in a five-mile radius and average household income of over $123,000, more than double the national average. Several retailers in the immediate vicinity include: Home Depot, Walmart, FedEx, Kroger, Sam’s Club, Kohl’s, Macy’s, TJ-Maxx, Marshall’s, Five Below, Advance Auto Parts, O’Reilly Auto Parts, Hobby Lobby, Dick’s Sporting Goods, Michael’s, and many more.


Year Built: 1988
Building Size: 10540sq ft
Lot Size: 1.66 acres

Map of 45295 Grand River Ave , Novi, MI, 48375

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What are Real Estate Incentives?

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."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

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