25373 Schoenherr RdWarren, MI 48089

For Sale
Call for price

High-yield retail center, strong tenant mix.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 9,304 square foot multi-tenant shopping center in Warren, Michigan. Located at 25373 Schoenherr Rd, this 1.58-acre property boasts a prime location adjacent to a high-performing Meijer Supercenter, driving significant foot traffic. The center features a strong tenant mix with a weighted average lease term exceeding six years, providing stable income and future growth potential. Current leases include built-in rental increases, offering further upside. The property's NOI is $212,162.45, with a pro-forma NOI of $242,204.04, and a 7.02% cap rate. The Net Rentable area is 1,326 square feet, with a price per square foot of $370.80. The property offers 77 parking spaces. Key tenants benefit from the high traffic generated by the adjacent Meijer, consistently ranking in the top 77% nationwide, attracting over 2.1 million customers in 2023 (Placer.ai data). Other strong performers include Great Clips, ranking in the top 75% nationally and top 80% in Michigan (Placer.ai data). The strategic location benefits from a dense residential population and proximity to major roadways and employment centers, ensuring long-term viability and strong returns. This is a rare opportunity to acquire a well-positioned, high-performing retail asset with significant upside potential.

Highlights

  • 9,304 SF multi-tenant shopping center on a 1.58-acre pad site adjacent to a 155,000 SF Meijer Supercenter in Warren, MI.
  • Stable asset with a weighted average lease term (WALT) exceeding six years across four leases, including built-in rental increases.
  • High-performing location: Meijer ranks in the top 77% nationwide (2.1M+ customers in 2023, Placer.ai).
  • Great Clips ranks in the top 75% nationally and top 80% in Michigan (Placer.ai).
  • Strong surrounding demographics with dense residential population and proximity to major roadways and employment centers.
  • Additional nearby tenants include Dunkin' Donuts and Taco Bell.

Property Details for 25373 Schoenherr Rd

Property type
Lifestyle centers, Power centers
Square Feet
9,304 SF
Lot Size (sq. ft)
68,825 SF

Location Insight

City
Warren
County
Macomb
State
Michigan
Latitude
42.4815371
Longitude
-82.9877384
25373 Schoenherr Rd, Warren, Michigan

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25373 Schoenherr Rd
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