15701 Market Drive

Retail: Big Box

15701 Market Drive, DearbornMI 48126

Property Details

Location

Address
15701 Market Drive, DearbornMI 48126
County
Wayne
Submarket
Dearborn
Parcels
32091320112300

Building Size

Building Size
89,040 SF
Rentable Space
73,400 SF

Building Details

Type
 Retail: Big Box
Number of Buildings
1
Occupancy Type
Single Tenant
Building Class
Building Status
Existing
Floors
2
Year Built
1997
Sprinklers
Primary Const.
Brick
Parking Ratio

Land & Utilities

Land (Acres)
2.23 Acres
Land (SF)
97,139 SF
Sanitary Sewer
Yes
Water
Yes
Rail Service
No
Zoning
COMMERCIAL
Lot Depth
Lot Width

Contacts

Current Listings

15701 Market Drive

73,400 SF$8,000,000
Cap Rate: 7.57%
Signature Associates

The subject asset is 73,400 square feet and is 100% leased to The Dufresne Spencer Group, LLC (“DSG”), one of Ashley HomeStore’s largest licensees. Ashley HomeStore (“Ashley”) is the world’s leading manufacturer and distributor of furniture with over 75 years of operating history. DSG recently executed an 8-year triple net lease at a rate of $8.75 per sq. ft., which escalates annually. The triple net lease states the tenant’s responsibility for all operating expenses pertaining to the property, with the exception of repair/replacement of roof, outer walls, parking lot, utility lines, and life-safety systems. Between the landlord and tenant, approximately $19.00 per sq. ft. is currently being invested into the building. Updates include parking lot work, masonry repairs, electrical upgrades, interior improvements, and more.

Signature Associates

The subject asset is 73,400 square feet and is 100% leased to The Dufresne Spencer Group, LLC (“DSG”), one of Ashley HomeStore’s largest licensees. Ashley HomeStore (“Ashley”) is the world’s leading manufacturer and distributor of furniture with over 75 years of operating history. DSG recently executed an 8-year triple net lease at a rate of $8.75 per sq. ft., which escalates annually. The triple net lease states the tenant’s responsibility for all operating expenses pertaining to the property, with the exception of repair/replacement of roof, outer walls, parking lot, utility lines, and life-safety systems. Between the landlord and tenant, approximately $19.00 per sq. ft. is currently being invested into the building. Updates include parking lot work, masonry repairs, electrical upgrades, interior improvements, and more.

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CIE

Source: CPIX

More Information

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