Courtesy of: Alex Lauer | Alexander Real Estate Detroit, LLC
Purchase Type: Sale
MLS ID: 2200095833
Year Build: 1950
Square Footage: 13,555 Sq ft
Lot size: 0.21
Property Type: Commercial
New Construction: No
Heating: Central Air, Forced Air
Swimming Pool: No
School District: Detroit
Address: 4700 ANTHONY WAYNE Drive
Neighborhood: Butlers Wm A Sub (plats)
Alexander Real Estate is pleased to present this 13,555 sf Retail Strip Center and Market located in Midtown, Detroit, MI. The property offers 5 Leases, leaving minimal landlord responsibilities. Leases include options to renew remaining, each with a rental rate increase. This opportunity can be classified as Investment Grade. The market is currently open and has been operating successfully since 1971. University Market is highly visible as it is strategically positioned on Anthony Wayne Dr., which sees 14,500 cars per day and enormous foot traffic from Wayne State University. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a "passive" investor to attain fee simple ownership of a rent rolling strip center and market. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenants, the Midtown exposure, and Wayne State University Campus. Sale included 4700 & 4718 Anthony Wayne.
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