Novi, Michigan: 10.7 % Cap Rate, Single Tenant NNN Investment
Novi, Michigan: 12.7 % Cap Rate, Single Tenant NNN Investment
Sean Brennan of Baseline Capital Partners negotiated the sale of a NNN Investment Property. The 13,136 square-foot, single-tenant retail building is located at 43600 Grand River in the Detroit suburb of Novi, Michigan.
Baseline Capital Partners represented the Purchaser and arranged for the investor to close the property at cap rate of 10.7%. The Property is located on the north side of Grand River Avenue and approximately 500 feet west of intersection with Novi Road, just a quarter mile south of I-96. It is also near the Novi Town Center and about one mile south of Twelve Oaks Mall.