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For Sale

Mercury Plaza

16800-16862 Schaefer Highway
Detroit, Michigan 48235
For Sale

Mercury Plaza

16800-16862 Schaefer Highway
Detroit, Michigan 48235

- Property Information

eCODE 165
County: Wayne
Property Type: Retail
Total Building SF: ± 38,653 SF
Available Building SF: ± 1,750 SF
Occupancy Rate: 95%
Sale Price: $3,200,000
Sale Price Per SF: $82.79

- Property Details

Occupancy Type: Multi Tenant
Year Built: 1954
# Acres: 26
Parcel ID: 22-030051
Parking Type: Surface
# Spaces: 134

- Additional Information

  • 95.5% occupied ±38,683 SF neighborhood retail center
  • Longstanding and successful mix of national and local retailers including CVS, O’Reilly Auto Parts, H&R Block, Boost Mobile, & Happy’s Pizza
  • Significant value-add opportunity; 1,750 SF available immediately
  • Ownership is currently appealing the property taxes with the City of Detroit and will increase the NOI based upon various gross leases
  • Located less than 1/2 mile from DMC Sinai-Grace Hospital; the largest of the 8 hospitals that comprise the Detroit Medical Center
  • Limited competing retail in the immediate trade area (including drug stores)
  • Situated on ±2.05 acres with 134 free surface parking spaces
  • Positioned in close proximity to both the resurging Downtown Detroit and nearby Metro Detroit suburbs
  • Excellent traffic counts and retail demographics in the immediate trade area
  • Asking Price: $3,200,000

 

- For more information, contact:

Alan Stern

Steven Silverman

248.324.2000 Request a call