WYOMING DETROIT, 15340STREET MICHIGAN TIM HORTONS OFFERING MEMORANDUM PETER BLOCK JARED PRINCE ASHLIN HAMILTON BRIAN WHITFIELD Executive Vice President Associate Associate Broker of Record +1 847 384 2840 +1 847 384 2852 +1 847 698 8225 Presented by:
[email protected] [email protected] [email protected] *Representative Image TABLE OF CONTENTS > EXECUTIVE SUMMARY Executive Summary Investment Highlights > PROPERTY INFORMATION Property Description Property Aerial Retail Map Tenant Overview > LOCATION OVERVIEW Location Overview Area Map Demographics > DISCLAIMER > EXECUTIVE SUMMARY Offering Memorandum EXECUTIVE SUMMARY Colliers International is pleased to present for sale a freestanding, single tenant, net- leased Tim Hortons located at 15340 Wyoming St in Detroit, Michigan. This is a strong location northwest of downtown Detroit along Rte 10 (156,000 VPD). The site posts over 21,000 vehicles per day on Wyoming St and a 5 mile population of over 400,000 people. The Tim Hortons corporate lease runs for six years through December 31st, 2022 and contains four (4), five (5) year options. The lease calls for 10% increases every 5 years, with the next increase on January 1, 2018. OFFERING SUMMARY This location sits on a 16,000 SF lot adjacent to the intersection of Wyoming Street & Fenkell Avenue. Neighbors include: McDonald’s, White Castle, Subway, BP, Valero, and more. ASKING PRICE: $632,258 CAP RATE: 7.75% CAP RATE (1/1/18): 8.53% NOI: $49,000 SIZE: 1,925 SF LEASE EXPIRATION: December 31, 2022 Tim Hortons Offering Memorandum