Vacant Restaurant Redevelopment Site

Transcription

1 Vacant Restaurant Redevelopment Site Call For Offers Deadline November 15 th Actual Site Dequindre Road Warren, Michigan, 48091

2 Offering Price: $650,000 Rolling Bid Process That Will Conclude With a Call For Offers on November 15, 2018 All Offers Will Be Considered Transactions Can Move Forward Prior to Call For Offers Date Third Party Diligence Reports can be Shared Prior to Signed Purchase and Sale Agreement with Accepted Offer, Proof Of Funds, and Signed NDA Location 4646 Dequindre Road Warren, MI Price $650,000 Price Per SF $130 Building Size 4,990 sq ft Lot Size 1.29 acres Date Opened July-1987 Last Remodel September-2011 INVESTMENT HIGHLIGHTS This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc Marcus & Millichap 2

3 Address List Price 456 East Elbert St, Indianapolis, IN $875, West 71st Street, Indianapolis, IN $700, E State Rte. 44, Shelbyville, IN $750, W Pike St, Goshen, IN $825, Preston Highway S, Louisville, KY $1,200, Dequindre Rd, Warren, MI $650, S. Center Road, Flint, MI $360, Pierson Rd, Flint, MI $650, Gratiot Ave, Saginaw, MI $300, Highway 54, Osage Beach, MO $1,000, St. Louis Mills Blvd, Hazelwood, MO $925, Transit Rd, Williamsville, NY $825, Harshman Rd, Dayton, OH $500, Dixie Hwy, Fairfield, OH $850, Glendale Ave, Toledo, OH $500,000 Call For Offers: Bid Deadline November 15 th Avg. Building Size of 5,100 SF on 1.37 Acres Strong Inherent Real Estate Fundamentals Located in Dense Retail Corridors High Alternative Use for Development All Sites Recently Remodeled Geographical Composition INDIANA 4 KENTUCKY 1 MICHIGAN 4 MISSOURI 2 NEW YORK 1 OHIO 3

4 SURROUNDING AREA MAP: # Dequindre Road, Warren, Michigan Hazel Park Raceway This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc Marcus & Millichap 4

5 Location Highlights Major Retailers in Surrounding Area Include: Kmart, Dollar Tree, McDonald s Strong Traffic Counts in the Area: Dequindre Road and Interstate-696 Average Traffic Counts of 20,367 and 194,740 Vehicles Daily Dense Hospitality Corridor Over 250 Rooms Hazel park Raceway Less Than Two Miles From Subject Property Location Overview This Bob Evans is located at Dequindre Road in Warren, Michigan. Warren is a city in Macomb County and is the largest city in the county, as well as Metro Detroit s largest suburb, being only ten miles from Detroit. The city is home to a variety of businesses including General Motors Technical Center, the United States Army Detroit Arsenal, and many more. Surrounding Retail and Points of Interest The subject property is well-positioned in a dense retail corridor, benefitting from its proximity to major national and local tenants. Nearby national tenants include: Kmart, Dollar Tree, and McDonald s. Local and industrial tenants include Church s Chicken, Knickerbocker Baking Company, Galloup, Exova, and many others. This Bob Evans is in a dense hospitality corridor. Hospitality tenants include Red Roof Inn, Knights Inn, America s Best Inn, and Victory Suites. Together they have over 250 rooms. The subject property is also less than two miles from Hazel Park Raceway, one of Michigan s largest and most profitable raceways. ADTC 194,740 Traffic Counts and Demographics There are approximately 126,111 people within a three-mile radius of this property and more than 342,215 within a five-mile radius. The property is situated on Dequindre Road, which has average daily traffic counts of 20,367 vehicles. The Bob Evans is also located nearinterstate-696. This portion of Interstate-696 sees average daily traffic counts of 194,740 vehicles. Warren, MI ADTC 20,367 Detroit, Michigan Detroit is the county seat of Wayne County, Michigan as well as the largest city in the state. Detroit s economy is primarily in the automobile industry, with companies such as General Motors and Ford Motor Company being the top employers, as well as having several factories in the area. The city of Detroit and other private-public partnerships have attempted to catalyze the region's growth by facilitating the building and historical rehabilitation of residential high-rises in the downtown, creating a zone that offers many business tax incentives, creating recreational spaces such as the Detroit RiverWalk, Campus Martius Park, Dequindre Cut Greenway, and Green Alleys in Midtown. The city itself has cleared sections of land while retaining a number of historically significant vacant buildings in order to spur redevelopment Attractions such as the Detroit Institute of Arts, Detroit Historical Museum, Charles H. Wright Museum of African American History, and the Motown Historical Museum are only a few of the reasons why over 15 million people visit Detroit each year. LOCATION OVERVIEW This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc Marcus & Millichap 5

6 Detroit, MI Population In 2014, the population in your selected geography is 342,214. The population has changed by -9.73% since It is estimated that the population in your area will be 337,144 five years from now, which represents a change of -1.48% from the current year. The current population is 48.62% male and 51.37% female. The median age of the population in your area is 38.3, compare this to the Entire US average which is The population density in your area is 4, people per square mile. Income In 2014, the median household income for your selected geography is $43,409, compare this to the Entire US average which is currently $51,972. The median household income for your area has changed by 1.39% since It is estimated that the median household income in your area will be $48,787 five years from now, which represents a change of 12.39% from the current year. The current year per capita income in your area is $24,427, compare this to the Entire US average, which is $28,599. The current year average household income in your area is $58,467, compare this to the Entire US average which is $74,533. Employment In 2014, there are 159,035 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 59.04% of employees are employed in white-collar occupations in this geography, and 40.88% are employed in blue-collar occupations. In 2014, unemployment in this area is 10.70%. In 2000, the average time traveled to work was 25.6 minutes. POPULATION 1-Mile 3-Mile 5-Mile , , , , , , , , , HOUSEHOLD INCOME 1-Mile 3-Mile 5-Mile Average $51,214 $55,596 $58,467 Median $41,400 $44,168 $43,409 TOP EMPLOYERS IN MACOMB COUNTY Employers # of Employees General Motors 12,668 Chrysler Group 9,616 U.S. Government 6,819 DEMOGRAPHICS This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc Marcus & Millichap 6

7 Glen Kunofsky Tel: (212) License: 49KU Matthew Anuszkiewicz Tel: (212) License: Daniel Price Tel: (646) License: Jeff Azuse Senior Vice President 5 Revere Drive - Suite 320 Northbrook, IL (d) (m) jazuse@hilcoglobal.com