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1220 E 9 Mile Road
Ferndale, MI 48220
Asking Price
$7.00M
Cap Rate
7.04%
Asset Type
Manufacturing Industrial
Class
Class B
What's Special
Garden Fresh (HQ) | 7.04% CAP | 95,718 SqFt <ul><li>Longtime Historical Occupancy: Garden Fresh Gourmet has been headquartered and operating out of this site for nearly three decades</li><li>Inflation Hedging & NOI Growth: FMV rent increase in the next option period</li><li>Below market rent of $5.52 PSF (Ferndale industrial market within 3-mile radius: $8.50 PSF)</li><li>Densely populated area with over 400,000 residents within a 5-mile radius of subject property</li><li>Six (6) drive-ins and ample parking (1.34/1,000 sq ft)</li><li
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NOI
$80,000
Cap Rate
1.14%
DSCR
0.19
Underwater
Cash-on-Cash
-15.98%
Monthly Payment
$34,632.181
Annual Cash Flow
$-335,586.168
