Marcus & Millichap Brokers $3.99M Sale Of Retail Property Leased To Range USA In Wixom

A retail property located at 48900 12 Mile Road in Wixom, MI, was involved in a sale transaction. The property boasts a sale price of $3,987,533 and encompasses a total area of 15,274 square feet, giving it a price per square foot of $261. The asset is noteworthy for being fully leased on an absolute net basis to Range USA, which has over 18 years remaining on the lease. Additionally, the property was built in 2020 and benefits from strong highway visibility along Interstate 96.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $3,987,533
• Square Footage: 15,274
• Price Per Square Foot: $261
• Address: 48900 12 Mile Road
• Market: Wixom, MI
• Lease Type: Absolute net lease
• Tenant: Range USA
• Lease Remaining: Over 18 years
• Year Built: 2020

The transaction was brokered by Dominic Sulo, Ryan Engle, Andrean Angelov, and Paul Kerber from Marcus & Millichap, representing the involved parties in this sale. The sale was made to an institutional buyer, highlighting the investment appeal of the property.