Jo-Ann Store - Auburn Hills, MI

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Pricing and Location


Price:   $7,270,622

Address:   600 Brown Road, Auburn Hills, MI 48326

Status:   Available

Property Details


CAP Rate: 6.75% Year Built: 2000
Net Rentable Area: 44,015
Lot Size (Acres): 3.96 NOI: $490,767

Marketing Materials


Property Description


Jo-Ann Store, in Auburn Hills, Michigan. This absolute NNN lease with no landlord responsibilities originally commenced on a 15 year lease in July 2000. The Tenant extended the lease by 10 years commencing February 2016. The new expiration date is now January 31, 2026, with Two 5 year options remaining thereafter. Built in 2000, the lease calls for rent escalations every two years including during the option periods. This is a corporate guaranteed lease in a growing market and industry.

Area Map and Street View


What Clients Are Saying                                     
 

"I want to thank for your part in helping us achieve our sale leaseback goals for 2009. We are pleased with the balance you helped us achieve between sales price, rent and overall cap rate. I would not hesitate to recommend you and your firm to other potential clients. Feel free to use me as a reference."
Joe Cirelli/The Pep Boys Manny, Moe & Jack

Contact Us

NNN Deal
in association with Marcus & Millichap

16830 Ventura Blvd. Suite 100
Encino, CA 91436

Lior Regenstreif
First Vice President, Investments
Senior Director, National Retail Group
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Rebekah Zweiban Wallack

Senior Research Analyst
Special Projects Coordinator
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Toll Free: 888.NNN.DEAL
Phone: 818.907.9525
Fax: 818.907.8557