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
About this deal
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.
On the Map
Retail
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Players
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