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Gallery at Warren Conner 4899 Conner Street Detroit, MI 48215

Retail
114,710 Sq. Feet
89% Occupied
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Property Details (4899 Conner Street, Detroit, MI 48215)
Asset Type Commercial
Starting Bid $850,000
Participation Deposit $10,000
Property Gallery at Warren Conner
Property Description 114,710 SF Retail Center on 8.98 Acres Located in Detroit, MI
Primary Property Type Retail
Assessor's Parcel Number 21002593-6, 21046422, 23030600.72N, 23030600.72F
Net Rentable Area 114,710 Sq. Ft.
Lot Size 8.98 Acres
Year Built 1954
Number of Buildings 1
Number of Stories 1
Occupancy 89.0%
Occupancy As of Date 02/01/2018
Event Item # B232-210R
Property ID 193018261
Transaction Fee 5% of Winning Bid Amount (A minimum of $20,000 will apply)
  • Description
  • Due Diligence
Description for 4899 Conner Street, Detroit, MI 48215

Property Tours are available by appointment only. Please contact the listing brokers to schedule a property tour.

NAI Farbman, in association with Ten-X, is pleased to present the opportunity to acquire the Gallery at Warren Conner, on behalf of the seller, via auction on April 9th-April 11th, 2018. The Gallery at Warren Conner is a department store anchored retail center located in Detroit, Michigan. The center has been a staple in it's community since the early 1950's providing the market with a once stop shop for all fashion needs. Many of the tenants have a long tenure at the site, providing stability and cash flow to the successful auction purchaser. Located at the prominent intersection for which it is named, a strong consumer base is provided by the residential nature of nearby neighborhoods as well as the significant industrial employers in the immediate vicinity. The center's most prominent tenants include Footlocker, Footlocer Kids, Metro PCS, Forman Mills, Lee Beauty Supply, and Dollar Tree.

Investment Highlights
- Strong Going-In Cap Rate Available
- Stable, Cash Flowing Asset
- Fashion Oriented Destination Detroit – Community Staple for 50 + Years
- Forman Mills Anchored and Home to Several Other Well Known Fashion Retailers
- Immediate Area Good Housing Stock, Fiat Chrysler Automotive Plant, and Community College
- Majority of Vacant Suites are Between 800 & 2,000 sq. ft. – Highly Desirable & Leasable Sizes for In-Line Retail
- Prominent Location at the Busy Intersection of Warren Avenue & Conner Avenue – Significant & Commanding Frontage on Both Corridors
- Strong Remaining Lease Length on Key Tenants Including Footlocker, Rainbow Apparel, and Citi Trends

Auctioneer Licensing Information

TenX RE, Inc.  Arlene Richardson RE Brkr 6505394497




Property Details


Contact


Open House Information


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Redemption date of {[{value.description | auctionDate:'YYYY-MM-DD': "MMM DD, YYYY"}]}
  • Bill Bubniak
  • NAI Farbman
  • MI RE Lic No: 6502129798
  • 248-351-4379
  • bubniak@farbman.com
  • Contact

  • Matthew Stefan
  • NAI Farbman
  • MI RE Lic No: 6501407270
  • 248-351-4370
  • stefan@farbman.com
  • Contact
For auction related questions, contact:
  • Cheri Mascitelli
  • Ten-X
  • 305-503-2643
  • cmascitelli@ten-x.com
  • Contact
For registration, website, or transaction related questions, please call a Ten-X representative at (888) 770-7332.
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