Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Sold
Taylor, MI - La-Z-Boy Shops
21300 Eureka Road | Taylor, MI 48180
$7,500,000
Price7.36%
Cap Rate$552,197
NOI23,200
± SF Offering GLADescription
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in La-Z-Boy & Eureka Shops, a 100% occupied, five-tenant, e-commerce resistant, retail strip investment property located in Taylor, MI (Detroit MSA). The offering features a strong, food and service-based tenant lineup of La-Z-Boy, Pearle Vision, ATI Physical Therapy, Detroit Wing Co., and Tropical Smoothie. All current tenants operate under leases which are NNN in nature, limiting expense leakage for a future investor. In addition, the current tenant lineup features a weighted average lease term of 8.6 years with zero short term rollover.
Location
The subject property is strategically located along Eureka Road with clear visibility and access to an average of 51,300 vehicles passing by daily. The site benefits from nearby on/off ramp access onto Interstate 75 (82,300 VPD), a major commuter thoroughfare traveling directly into Downtown Detroit. The strip is ideally situated within a dense retail corridor and is within walking distance to several major shopping centers including Burlington Square (250K SF), Value City Center (245K SF), Southland Center (914K SF), and others. The surrounding national/credit tenants include The Home Depot, Menards, Kohl’s, Best Buy, Target, Macy’s, PetSmart, and others. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. Furthermore, the asset is within proximity to numerous single-family communities and multi-family complexes including Windsong Apartments (101 units), Maplewood Manor (102 units), and Park Place Apartments (104 units), providing a direct residential consumer base from which the property can draw. The 5-mile trade area is supported by more than 220,100 residents and 75,900 daytime employees, with an average annual household income of $74,814.
Documents & Links
| View | ||
|---|---|---|
 Offering Memorandum |  |  |