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East 9 Mile Road

Gerdom Realty's Owen Kelly And Michael Murphy Lease Retail Space In Hazel Park For Bin Sales Retailer
LEASEDRetail

Gerdom Realty's Owen Kelly And Michael Murphy Lease Retail Space In Hazel Park For Bin Sales Retailer

East 9 Mile Road

Building Size

3,900 SF

Asset Type

Retail

Closing

May 30, 2025

AI

3,900 square feet of retail space was leased on East 9 Mile Road in Hazel Park, Michigan. This property is located in a market that has reached full occupancy shortly after the listing.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: East 9 Mile Road
  • Market: Hazel Park, MI
  • Brokers: Michael Murphy & Owen Kelly - Gerdom Realty & Investment
  • Lease Date: 05/30/2025

Gerdom Realty's Owen Kelly and Michael Murphy facilitated the leasing transaction to a bin sales retailer. The deal was completed within a month of the property being listed and achieved above-asking rent, contributing to the center's full occupancy status.

Players

Michael Murphy

Gerdom Realty & Investment

Broker

2 deals

Broker
Gerdom Realty & Investment
Gerdom Realty & InvestmentBrokerage

Northville Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93