Multi-Tenant Retail Center | Aspen Dental & Charleys Philly Steaks | Sterling Heights, MI

An exceptional opportunity to acquire a 100% leased, Class A multi-tenant retail asset situated in the heart of Sterling Heights, Michigan. Offered at a 6.25% cap rate producing $217,656 in Net Operating Income (NOI) (representing an implied valuation of $3,482,496), this 5,548-square-foot retail center sits on an expansive 1.31-acre parcel. Built in 2020, the property combines essential dental healthcare services with a high-performing quick-service restaurant (QSR), delivering recession-resistant income, low landlord obligations, and long-term yield stability along Macomb County's busiest commercial corridor.

Property Specifications & Financial Overview

• Offering Price: $3,482,496

• Cap Rate: 6.25%

• Annual Net Operating Income (NOI): $217,656

• Building Size: 5,548 Net Rentable SF

• Lot Size: 1.31 Acres (57,063 SF)

• Property Class: Class A Strip Center / Multi-Tenant Retail

• Year Built: 2020 (Modern, top-tier construction requiring virtually no capital expenditures)

• Occupancy: 100% Leased

• Tenants / Brands: Aspen Dental & Charleys Cheesesteaks & Wings

• Lease Structure: NNN+ (Tenants cover taxes, insurance, CAM, HVAC maintenance, and parking lot upkeep)

• Remaining Lease Term: ~5.1 Years (Primary expiration: September 30, 2031)

• Renewal Options: Multiple 5-Year Options

Nationally Recognized Synergy & Dual Tenant Stability

This multi-tenant setup pairs two industry-leading, recession-resilient retail sectors under one roof:

• Aspen Dental (Healthcare Anchor): A premier national dental operator boasting over 1,000 locations across the United States, driving steady, non-cyclical customer traffic throughout the business week.

• Charleys Cheesesteaks & Wings (QSR Anchor): One of North America's fastest-growing quick-service food franchises, with more than 850 global locations. Charleys provides strong weekend and evening foot traffic.

• Contractual Rent Bumps: Includes a 10% contractual rent escalation for Charleys during the primary term, ensuring steady NOI expansion and inflation protection.

• Passive Lease Structure: Operating as an NNN+ asset, tenants handle day-to-day common area maintenance (CAM), real estate taxes, building insurance, parking lot upkeep, and HVAC systems.

Premier Corridor Exposure Along Van Dyke Avenue (M-53)

Strategically situated on Van Dyke Avenue (M-53), the retail center benefits from incredible regional connectivity and massive visual exposure:

• High-Volume Commercial Corridor: Captures continuous daily commuter volume along M-53, one of Metro Detroit’s key economic arteries.

• Dominant National Retail Trade Area: Situated near major traffic drivers and national brands, including Walmart, Meijer, The Home Depot, Dollar General, Taco Bell, Panda Express, Mobil, and Huntington Bank.

• Excellent Access & Visibility: Features clean storefront frontage, pylon signage opportunities, smooth ingress/egress, and a high-ratio parking field on a 1.31-acre lot.

High-Income Sterling Heights Demographics

Sterling Heights is a cornerstone submarket of Metro Detroit, known for its dense residential neighborhoods and strong purchasing power:

Immediate Trade Area Profile:

• 1-Mile Radius Population: Over 8,650 Residents

• Average Household Income: Exceeding $82,000 within 1 mile

• Robust Submarket Demand: Supported by Macomb County’s strong employment base, continuous residential infill, and steady retail spending.

Key Investment Highlights

• Modern 2020 Construction offering Class A structural appeal and low near-term CapEx obligations.

• 100% Leased to High-Profile Brands (Aspen Dental & Charleys Cheesesteaks & Wings).

• Attractive 6.25% Going-In Cap Rate with $217,656 in stable annual NOI.

• Passive NNN+ Lease Terms minimizing landlord operational costs and responsibilities.

• Contractual 10% Rent Increase for Charleys driving organic revenue growth.

• Prime Van Dyke Ave (M-53) Location surrounded by major regional traffic anchors.