Offering Memorandum
Investment Sale
Chesterfield Square
51347-51405 Gratiot Ave
Chesterfield Twp, Michigan
Chesterfield Twp, Michigan
eCode:088i
Sales Price
$9,696,488
NOI
$775,719
Cap Rate
8.00%
Building Size
66,964 SF
Lot Size
6.39 AC
Year Built
2002, 2005 & 2006
Anchor(s)
PetSmart
Dollar Tree
Michaels
Tenant Roster
- PetSmart
- Dollar Tree
- Michaels
- American Mattress
- 7 Salon Suites
Traffic Count
23 Mile Rd (31,716 CPD)
Gratiot Ave (28,203 CPD)
Highlights
- Strong Performing National Anchors
- Anchored by PetSmart, Dollar Tree, and Michaels
- WALT – 5.51 Years
- Long-Standing Tenant Operating History
- Value-Add Through Lease-Up and Recapture
- Long-Term Leases with Strong Tenant Commitments
- Shadow-Anchored by Home Depot, Meijer and Target
- Recent Capital Improvements
- Dense Affluent Demographics
| Radius | 1 mile | 3 mile | 5 mile |
| Population Density | 5,557 | 45,497 | 105,801 |
| Household Income | $95,402 | $113,986 | $119,824 |
| Daytime Pop | 3,250 | 12,481 | 29,489 |
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