169 W. Clarkston Road, Lake Orion

Retail-Commercial for Sale
Catylist Listing ID: 30084895
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail, Vehicle Related, Other
Building Size (RSF): 14,881 SF
Gross Land Area: 1.18 Acres
Sale Price: $899,000
Unit Price: $60.41 PSF
Ceiling: 16 ft.
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User, Business
Usable Size (USF): 14,881 SF
Sale Terms: Cash to Seller, Purchase Money Mortgage, Other
Cap Rate: 7.89%
Last Updated: 3/20/2018

Overview / Comments

14,881 SF investment property for sale at 169 W. Clarkston Road, Lake Orion, MI. The current NOI is $70,940.60 with a CAP rate of 7.89%. Tenants include Oakland County Crossfit, Green Light Graphics, Paw Pals, Infinite Web Design, and Dunaskiss Consulting. Opportunity for owner/user/investor with 1,360 SF currently available, representing a possible NOI of $85,940.56 and a CAP rate of 9.56% at 100% occupancy. New parking lot (70 spaces) in 2016. 2 Loading doors (12x14), 16’ ceilings. Contact agent for confidentiality agreement and a copy of the current rent roll.

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Tax ID/APN: 09-14-201-002
Retail Clientele: General, Family, Business, Recreation, Other
Property Located Between: W. Clarkston Rd., just west of Lapeer Road
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Property Condition: Good
Year Built: 1970
Year Renovated: 2016
Construction/Siding: Brick/Aluminum Siding
Exterior Description: New parking lot and exterior paint.
Total Parking Spaces: 70
Parking Type: Surface
Parking Description: New asphalt parking lot.
Heat Type: Natural Gas
Air Conditioning: Package Unit
Interior Description: Shared kitchenette.
Zoning Description: GB General business
Lot Frontage: 135
Lot Depth: 379

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 8,340 38,392 87,681
Median Age: 37.45 38.92 40.09
Households: 3,208 14,046 32,299
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