Best Buy - 5216 W Saginaw Hwy

Retail-Commercial for Sale
Catylist Listing ID: 30659395
Property Subtypes: Free-Standing Building
Building Size (RSF): 45,000 SF
Gross Building Area: See Agent
Sale Price: $7,222,996
Unit Price: $160.51 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/16/2020

Overview / Comments

CBRE’s Net Lease Property Group Midwest is pleased to offer qualified investors the opportunity to acquire 100% fee interest in a 45,000 square foot Best Buy. The Property is in the heart of the Lansing, Michigan retail corridor. Best Buy has been at this location since 2002 and recently extended their lease through March 2023, showing a strong commitment to the site. The lease includes two additional five-year options with rental increases in each option period.
Best Buy is an outparcel to Lansing Mall, a 750,000-square foot regional mall. Best Buy and Lansing Mall are situated amongst the retail concentration along Saginaw Highway. The corridor features a strong lineup of national retailers and faces little competition on the western edge of the Lansing market and benefits from traffic along Saginaw Highway as well as access to I-69 on the eastern edge of the corridor.

Additional Details

Nearest MSA: Lansing-East Lansing
County: Eaton
Tax ID/APN: 040-011-400-122-00
Zoning: COMMERCIAL
Tenancy: Single Tenant

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 12,076 55,247 133,035
Median Age: 39.16 39.4 36.35
Households: 5,343 24,272 56,457

Contact

Photograph of Listing Agent

Cameron Timmer

CBRE Detroit CARWM Member
Photograph of Listing Agent

Russ Bono, CCIM

CBRE Detroit CARWM Member
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