Joann Fabrics and Crafts
20550 E 13 Mile Rd Roseville , MI 48066-4542

Joann Fabrics and Crafts - retail for sale

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Overview



Single-tenant Joann Fabrics and Crafts store for sale located on the premier outparcel of The Home Depot adjacent to I-94. The only Joann store within a 7-mile radius, it serves over 315,000 residents. Nearby retailers include Meijer, Kroger, Taco Bell, CVS, and McDonald’s. Traffic is generated from both Detroit’s “East Side” and an exit ramp off the highway just 700 feet from the property.

Investment highlights


  • Fee simple interest
  • Property includes an NN lease with six years remaining 
  • Four 5-year options for renewal with rental increases in the option terms
  • Minimal landlord responsibilities
  • Leased to Joann Stores, Inc. corporate
General
Property type Retail
Property subtype Single tenant/Standalone
Tenure type Sale/Purchase
Property address 20550 E 13 Mile Rd, Roseville, MI 48066-4542
Market Detroit
Land in acres 2.65
Building size 33,160  ft2
Year built 1996
Year renovated 2013
Financial
Price $4,000,000
Cap rate 8.01%
Current NOI $320,414.00
Lease
Tenant's name JoAnn Fabrics Corporation
Lease type NN
Annual rent $320,414.00
Lease expiration date 01/31/2026
Remaining term 6Yrs

Joann Fabrics and Crafts - retail for sale

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