19601 VERNIER ROAD, HARPER WOODS, MI · 2020-06-18 · HARPER WOODS, MI . Harper Woods is located between the City of Detroit and St. Clair Shores, and between Detroit and the Grosse

BUILDING: ±3,230 SF LOT: ±0.60 AC

PARKING: ±23 SPACES

PROPERTY TYPE: RETAIL

TENANCY: SINGLE

OCCUPANCY: VACANT

YEAR BUILT: 1982

STORIES: ONE

WELL-MAINTAINED

CORNER LOT

DRIVE-THRU

BUS LINE

SIGNAGE POTENTIAL

F O R M E R C I T I Z E N S B A N K1 9 6 0 1 V E R N I E R R O A D , H A R P E R W O O D S , M I

CBRE is pleased to present a vacant, free-standing retail building located at 19601 Vernier Road, Harper Woods, MI (the “Property”) in a dense suburb of Detroit. This Property is offered significantly below replacement cost and offers an exceptional owner/user or investment opportunity with significant value enhancement potential at a significant discount.

The Property is comprised of one, free-standing, single-story building totaling ±3,230 SF that was formerly utilized as a Citizens Bank branch with drive-thru. Positioned on ±0.60 AC corner parcel, the Property offers abundant parking with 23 surface spaces and offers 175’ of prime frontage on Vernier Road & 150’ on Beaconsfield Street with 2 curb cuts. The Building’s foundation is made of concrete slab with reinforced concrete perimeter slabs and the walls made of brick over concrete block. The Property can benefit from immediate traffic drawn by Lowe’s Home Improvement located across the street from the Property and the hundreds of national retailers within a mile of the site. The prime location offers potential investors the ability to acquire a free-standing retail building with significant value add through long term lease up, adaptive reuse, or repositioning.

The Property is located within the The Pointes/Harper Woods in the Detroit MSA. This former Citizens Bank offers excellent visibility and accessibility and is poised to benefit from approximately ±20,853 VPD on Vernier Rd. The Property is located only ±10 miles outside of the Detroit CBD and just ±3 miles from Lake St. Clair. Additionally, the Property is located only ±1 mile from Grosse Pointe, one of the wealthiest areas in Detroit. The Property is located only ±0.4 miles from Eastland Center featuring national retailers with strong drawing power including Home Depot, McDonald’s, GameStop, Shopper’s World, Rainbow, Family Dollar, Champs, and Claires. The Property is located in a densely populated residential area and benefits from compelling demographics. In 2019, the Property had approximately ±322,627 individuals residing within a five-mile radius with an average household income of ±$68,895. Additionally, within a 5-mile radius of the Property the total annual budget expenditures accounts for ±$7.4 billion of which $2.2 million are allocated to retail goods and expenditures.

ONLINE AUCTION: AUGUST 10-12, 2020

P H I L I P KAT E ST: 305-206-1286

E: [email protected]

A DA M S K L AV E RT: 954-745-7467

E: [email protected]

±3,230SF FORMER CITIZENS

BANK BRANCH AVAILABLE AT

A SIGNIFICANT DISCOUNT BELOW

REPLACEMENT COST

TREMENDOUS VALUE ADD

OPPORTUNITYVIA STRATEGIC LONG

TERM LEASE-UP, ADAPTIVE REUSE, OR

REPOSITIONING

A DA M S K L AV E RT: 954-745-7467

E: [email protected]

EASILY ACCESSIBLE IN

GREATER DETROIT WITH DESIRABLE FRONTAGE ON A MAIN AREA

THOROUGHFARE NEAR 1-94

STRATEGICALLY POSITIONED

WITH PROMINENT SIGNAGE

OPPORTUNITIES AND DRIVE-THRU

CAPABILITIES

P H I L I P KAT E ST: 305-206-1286

E: [email protected]

WAYNE COUNTY, MI

ST

Wayne County is the most populous county in the US; as of 2018, the United States Census estimated its population as 1,753,893 making it the 19th-most populous county in the United States. The county seat is Detroit, the largest and most populous city in Michigan and 23rd-most populous city in the United States.

Wayne County is home to General Motors, Compuware and other global companies, as well as major medical centers, research universities and governmental offices. The vibrant economy of Wayne County is the result of a diverse employer base; from Fortune 500 Companies to thriving start-ups. Wayne County has the highest concentration of automotive research and technical centers in the world.

$30,000 STARTING BID

O N L I N E A U C T I O N

HARPER WOODS, MI

Harper Woods is located between the City of Detroit and St. Clair Shores, and between Detroit and the Grosse Pointes. Harper Wood borders Macomb County on the 8 Mile Road side and the village is located along I-94. Harper Woods is located about 10 miles north of Detroit, Michigan’s largest city.

Investors/owners can benefit from the multitude of local, state, and federal programs and incentives that are available to businesses that locate, expand, and do business in Harper Woods. The favorable tax base, low cost of doing business, diverse business base, availability of professional and skilled workforce, and quality lifestyle continue to attract residents and businesses to the area.

© 2019 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful,

independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

5-MILE DEMOGRAPHICS