Refresh Dental - The Shoppes at 12 Mile
Warren, MI

Refresh Dental - The Shoppes at 12 Mile

11552-11560 E 12 Mile Road, Warren, MI

Investment Highlights

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Description

The Wine Group is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a 100% leased, 11554 Twelve Mile and Refresh Dental investment property located in Warren Michigan. The subject property is 100% occupied by the following tenants: Refresh Dental, Style Tailoring, Taradin Supermarket, and Baskin Robins. The largest tenant, Refresh Dental, has over 8 years remaining on their initial lease with 2 5-Year options to extend. The lease for Refresh Dental also features annual rental increases of 2.5%. Taradin Supermarket has over 4 years remaining, Basking Robins has 4 years remaining and features a rent increase, and the other two tenants are operating on MTM leases and provide upside for a new owner looking to secure long-term NNN tenants and increase returns. Landlord has put tens of thousands of dollars into improving the structure of Refresh Dental in the last few years, renovating the interior, exterior, flat roof, and gutters. The strip center’s flat roof was recently redone.

Location

The asset has easy access as well as excellent visibility due to its large pylon sign situated on Twelve Mile Road. The center shares the busy part of Warren with household names like Walmart Superstore, Kroger, The Home Depot, and Lowes. The 5-mile trade area is supported by a population of over 332,225 residents and nearly 149,582 employees. The 1-mile trade area average household income of $76,094.

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