Orchard lake Plaza Shopping Center · Lease Guarantor Contact Broker for C.A. INVESTMENT HIGHLIGHTS 15,138 SF Neighborhood Stipe Center with FedEx Office 69% Occupancy with a Diverse

Orchard lake Plaza Shopping Center

FED EX Anchored - Major Retail Corridor - 36,000 VPD

29306 Orchard Lake Road, Farmington Hills, MI 48334

EXCLUSIVE LISTING AGENTS:

Richard Ludwig Doug Passon Robert Bender Senior Director Managing Partner Managing Partner Direct: 248.419.3638 Direct: 248.254.3407 Direct: 248.254.3406 [email protected] [email protected] [email protected]

Subject Property

mailto:[email protected]?subject=Orchard%20Lake%20Plaza%20Shopping%20Center






DISCLOSURE :

All materials and information received or derived from Fortis Net Lease (hereinafter collectively referred to as “FNL”), its directors, officers, agents, advisors,

affiliates and/or any third party sources are provided without representation or warranty by FNL its directors, officers, agents, advisors, or affiliates as to com-

pleteness, veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, suitability, financial

performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters.

Neither FNL its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the

any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnished for

review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters of significance to such party. FNL will not

investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.

ALL PARTIES SHALL CONDUCT THEIR OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE:

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections and investiga-

tions including through appropriate third party independent professionals selected by such party.

All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent

professionals. FNL makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. FNL

does not serve as a financial advisor to any party regarding any proposed transaction. All data and assumptions regarding financial performance, including that

used for financial modeling purposes, may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided

to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental

limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property.

Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax at-

torney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the prop-

erty complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consult-

ants and governmental agencies. All properties and services are marketed by FNL in compliance with all applicable fair housing and equal opportunity laws.







INVESTMENT SUMMARY

List Price: $2,495,000

Current NOI: $211,544

Initial Cap Rate 8.48%

Land Acreage: 2.05 +/-

Year Built: 1983

Building Size: 15,138 SF

Google Maps: CLICK HERE

Google Street view: CLICK HERE

LEASE SUMMARY

Taxes/CAM/Insurance: Pro-Rata

Roof/Structure : Landlord Responsibility

Parking Lot Replacement: Landlord Responsibility

Original Lease Terms: Contact Broker for C.A.

Term Remaining: Contact Broker for C.A.

Rent Start/End Dates: Contact Broker for C.A.

Rent Increases: Contact Broker for C.A.

Lease Guarantor Contact Broker for C.A.

INVESTMENT HIGHLIGHTS

15,138 SF Neighborhood Stipe Center with FedEx Office

69% Occupancy with a Diverse National and Regional Tenant Base

Property is Adjacent to Very Busy 7-Eleven Store in Affluent Community

4,750 SF is Available for Lease which Gives Astute Investor Great Upside

High Visibility and Ease of Access (Two Access Points Along Orchard Lake

Rd.

LOCATION HIGHLIGHTS

Average Household Income is $99,150 Within a 5 Mile Radius

5 Mile Population Surrounding the Investment Property Exceeds 179,110

Average Daily Traffic Count on Orchard Lake Road Exceeds 36,600 VPD

Property is Located in the Immediate Vicinity of Farmington Hills Primary

Retail Corridor at the Intersection of Orchard Lake Road and M-10

FINANCIAL SUMMARY

REVENUES PSF

Base Rental Income $253,182 $16.72

Expense Reimbursements $81,446 $5.38

Gross Income $334,628 $22.11

Vacancy Factor (10%) $33,463 $2.21

Effective Gross Income $301,165 $19.89

OPERATING EXPENSES

CAM $24,973 $1.65

Insurance $14,472 $0.96

Taxes $31,334 $2.07

Management Fee (5.0% EGI) $15,058 $0.99

Capital Reserves ($0.30/SF) $3,785 $0.25

Total Expenditures $89,621.68 $5.92

NOI $211,544

*10% Vacancy Factor

*Expenses/NOI has been calculated using Contractual Rents and Expenses


https://www.google.com/maps/place/29306+Orchard+Lake+Rd,+Orchard+Lake+Plaza+Shopping+Center,+Farmington+Hills,+MI+48334/@42.5123757,-83.3584976,861m/data=!3m2!1e3!4b1!4m2!3m1!1s0x8824b09f71e8f0e1:0x915e921484cb8cc

https://www.google.com/maps/place/29306+Orchard+Lake+Rd,+Orchard+Lake+Plaza+Shopping+Center,+Farmington+Hills,+MI+48334/@42.5123395,-83.3593002,3a,75y,62.26h,90.09t/data=!3m4!1e1!3m2!1sssKX5AuGMweD87V4d0KMJQ!2e0!4m2!3m1!1s0x8824b09f71e8f0e1:0x915e921484cb8






Farmington Hills, Michigan

Farmington Hills is the second largest city in Oakland County in

the U.S. state of Michigan. It is part of the upscale northwestern

suburbs of Metropolitan Detroit and is also 33 miles northeast of

downtown Ann Arbor. Farmington Hills consistently ranks as one

of the safest cities in the United States, as well as in the state of

Michigan. In 2010, the area ranked as the 30th safest city in Ameri-

ca. Although the two cities have separate services and address-

es, Farmington and Farmington Hills are often thought of as the

same community. Features of the community include a recently

renovated downtown, boutiques, a vintage cinema, numerous res-

taurants, exotic car dealerships, art galleries, and public parks in-

cluding Heritage Park.

Farmington Hills serves as a major business center for the greater

Detroit area. Gale, an educational publishing company owned

by Cengage Learning, and the auto loan company TD Auto Fi-

nance are located in Farmington Hills. There are also many branch-

es of large corporations in the office campuses recently built.

The Nissan Technical Center North America and Nissan Trading

Corp. are located in Farmington Hills. The Nissan technical center

handled project engineering of vehicle bodies used in North Ameri-

ca and Latin America. It also has a small laboratory; as of 2012 sev-

eral PhD-credentialed scientists had been doing research on fuel

cells, and the company planned to add electrical battery and re-

charging of electrical vehicle research to the technical center labor-

atory.

LOCATION OVERVIEW



















Radius 1 Mile 3 Mile 5 Mile

DEMOGRAPHICS

Population:

2019 Projection 7,687 66,035 186,363

2014 Estimate 7,552 64,255 179,110

2010 Census 7,741 63,950 171,325

Growth 2014-2019 1.79% 2.77% 4.05%

Growth 2010-2014 (2.44%) 0.48% 4.54%

2014 Population Hispanic Origin 134 1,041 3,179

2014 Population by Race:

White 5,629 45,256 121,401

Black 1,314 12,151 37,709

Am. Indian & Alaskan 9 83 355

Asian 416 5,398 15,986

Hawaiian & Pacific Island 1 15 48

Other 183 1,352 3,610

Households:

2019 Projection 3,353 25,899 78,023

2014 Estimate 3,310 25,235 75,021

2010 Census 3,446 25,243 71,909

Growth 2014 - 2019 1.30% 2.63% 4.00%

Growth 2010 - 2014 (7.54%) (1.63%) 1.26%

Owner Occupied 1,970 19,099 48,835

Renter Occupied 1,340 6,137 26,186

2014 Avg Household Income $76,260 $109,270 $99,149







ORCHARD LAKE PLAZA

ORCHARD LAKE PLAZA


OUR TEAM

DOUG PASSON ROB BENDER BRYAN BENDER MIKE CARTER MARV DELAURA MIKE JAWORKSI

Managing Partner Managing Partner Associate Director Senior Associate Senior Associate Senior Associate

(248)254.3410 (248) 254.3410 (248) 254.3410 (248) 254.3410 (248) 254.3410 (248) 254.3410

PAT HAMMOND FRANK ROGERS KYLE CARSON BEN SCHULTZ FORTIS NET LEASE Senior Associate Senior Associate Business Development Business Development 30445 Northwestern Highway, Suite 345

(248) 254.3410 (248) 419.3741 (248) 254.3410 (248) 254.3410 Farmington Hills, MI 48334

This information is deemed confidential and privileged and may contain inside information. If you are not the intended receiver do not read, copy or distribute this offering memorandum, instead delete or destroy it and contact one of our representatives. This

information is believe to be accurate but is not represented or warranted by Fortis Net Lease or any of our agents or contractors.

MORE THAN $2.5 BILLION IN SALES

Fortis Net Lease is a national investment real estate brokerage firm specializing in the acquisition and disposition of investment real estate. We

help developers, franchisees, private investors and institutional funds accomplish their short and long term investment goals. The principals of

Fortis Net Lease have successfully sold hundreds of properties in over three dozen states with a total transaction volume topping $2.5 billion.

Fortis Net Lease specializes in the acquisition and disposition of the following:

Net leased single tenant properties (Pharmacies, Auto Parts, Dollar Stores, Banks, QSR, Office/Industrial, Medical, Junior/Big Box, etc.)

Portfolios & Corporate Sale-Leaseback Transactions (Burger King, Arby’s, Tutor Time, Taco Bell, Wendy’s, etc.)

Multi-Tenant Retail Centers & Medical Office (Anchored or Unanchored - 5,000 - 1,000,000 SF)

The advisors at Fortis Net Lease create long term relationships with our investors by delivering superior services and unparalleled results. When

you hire Fortis Net Lease as your exclusive representative you will experience the individual attention and professionalism that you will not re-

ceive at other large brokerage firms.

OUR TEAM

DOUG PASSON ROB BENDER RICHARD LUDWIG BRYAN BENDER MARV DELAURA MIKE JAWORKSI

Managing Partner Managing Partner Senior Director Senior Director Senior Associate Senior Associate

(248)254.3407 (248) 254.3406 (248) 419.3638 (248) 254-3410 (248) 254.3410 (248) 254.3410

MIKE CARTER PAT HAMMOND FRANK ROGERS KYLE CARSON BEN SCHULTZ FORTIS NET LEASE Senior Associate Senior Associate Associate Business Development Business Development 30445 Northwestern Highway, Suite 345

(248) 254-3410 (248) 254.3410 (248) 419.3741 (248) 254.3410 (248) 254.3410 Farmington Hills, MI 48334

Documents

Orchard lake Plaza Shopping Center · Lease Guarantor Contact Broker for C.A. INVESTMENT HIGHLIGHTS 15,138 SF Neighborhood Stipe Center with FedEx Office 69% Occupancy with a Diverse