waterfall plaza - loopnet · 2016-03-31 · waterfall plaza dixie highway, btw. andersonville &...
TRANSCRIPT
Contact
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
Price: $4,100,000
NOI: $364,061
Cap Rate: 8.9%
Price PSF: $96
Building Size: 42,590 SF
Land Size: 4.3 Acres
Year Built: 1976
Renovated: 2006
Parking Spaces: 238/7 Handicap
Zoning: C4 Extensive Business
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
The Offering Memorandum (“The Memorandum”) is intended solely for the limited use of The Potential Purchaser in considering whether to pursue negotiations toacquire Waterfall Plaza, Waterford, Michigan (“The Property”). The Memorandum, prepared by Mid-America Real Estate - Michigan, Inc. (hereinafter referred to as“MAREM”), contains information pertaining to the operation of The Property and does not purport to be all-inclusive or to contain all the information which The PotentialPurchaser may desire. The Memorandum is being delivered with the understanding that The Potential Purchaser will conduct its own analysis and investigation of TheProperty, independently and without reliance upon MAREM, The Owner or The Memorandum and based on such documents, information and other matters as ThePotential Purchaser, in its sole discretion, deems appropriate in evaluating a purchase of The Property. In furnishing The Memorandum, MAREM and/or The Ownerreserve(s) the right to request the return of The Memorandum (including all copies or partial copies), or any other information provided, at any time. Neither The Ownernor MAREM or any of their officers, employees or agents make any representation or warranty, expressed or implied, as to the accuracy or completeness of TheMemorandum or any oral or written communication transmitted from MAREM and/or The Owner to The Potential Purchaser and no legal liability is assumed or to beimplied with respect thereto. By accepting The Memorandum, The Potential Purchaser agrees that The Memorandum’s contents and any other information pertaining toThe Property and provided to The Potential Purchaser are confidential and proprietary; that The Memorandum and the information contained therein or provided is theproperty of The Owner and/or MAREM; that it will hold and treat The Memorandum and information provided in the strictest of confidence; that it will not, directly orindirectly, disclose or permit anyone else to disclose The Memorandum’s contents without prior written authorization; and that it will not use or permit to be used TheMemorandum or The Memorandum’s contents in any fashion or manner detrimental to the interest of The Owner or MAREM or in violation of the obligation to maintainsuch information and The Memorandum in strict confidence. However, The Potential Purchaser may disclose such confidential information to its employees, auditors,financial advisors, directors and/or counsel to whom it is reasonably necessary for purposes of evaluating The Property provided all reasonable precautions are taken tosafeguard the information and parties are informed of the need to maintain the information as confidential. The Potential Purchaser agrees that photocopying or otherduplication of information provided by The Owner and/or MAREM is strictly prohibited. The Owner expressly reserves the right, at its sole discretion, to reject any or allproposals or expressions of interest in The Property and to commence, participate in, or terminate discussions with any party at any time with or without notice. ThePotential Purchaser acknowledges that The Owner has no obligation to discuss or agree to the sale of The Property. Notwithstanding that The Potential Purchaser andThe Owner may reach one or more oral understandings or agreements on one or more issues that are being discussed, neither party shall be bound by any oral agreementof any kind and no rights, claims, obligations or liabilities of any kind, either express or implied, shall arise or exist in favor of or be binding upon either party except to theextent expressly set forth in a written agreement signed by both parties. The Memorandum shall not be deemed a representation of the state of affairs of The Propertynor constitute an indication that there has been no change in the business or affairs of The Property since the date of its preparation. The Potential Purchaser agrees notto contact the tenants, leasing brokers or property management staff of The Property in connection with its review of The Property without prior approval of The Owner.Any and all questions related to The Memorandum or The Property must be directed to MAREM. In the event The Potential Purchaser decides not to pursue theacquisition of The Property, The Potential Purchaser agrees to return The Memorandum and all copies (including partial copies) to the appropriate representative ofMAREM.
CONDITIONS OF OFFERING
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
RepresentationThe Potential Purchaser understands and agrees that MAREM is not representing The Potential Purchaser in this Proposed Sale. MAREM is only representing TheOwner in this Proposed Sale.
Americans with Disabilities ActThe United States Congress has enacted the Americans With Disabilities Act. Among other things, this act is intended to make business establishments equallyaccessible to persons with a variety of disabilities. As such, modifications to real property may be required. State and local laws also may mandate changes. Neither TheOwner nor MAREM is qualified to advise The Potential Purchaser as to what, if any, changes may be required now, or in the future. The Potential Purchaser shouldconsult the attorneys and qualified design professionals of its choice for information regarding these matters. Neither The Owner nor MAREM can determine whichattorneys or design professionals have the appropriate expertise in this area.
Hazardous Materials DisclosureVarious construction materials may contain items that have been or may in the future be determined to be hazardous (toxic) or undesirable and as such may need to bespecifically treated, handled or removed. Due to prior or current uses of The Property or the area, there may be hazardous or undesirable metals, minerals, chemicals,hydrocarbons or biological or radioactive items (including electric and magnetic fields) in soils, water, building components, above or below-ground containers orelsewhere in areas that may or may not be accessible or noticeable. Such items may leak or otherwise be released. Neither The Owner nor MAREM has expertise in thedetection or correction of hazardous or undesirable items. Expert inspections are necessary. Current or future laws may require clean up by past, present and/or futureowners and/or operators. It is the responsibility of The Potential Purchaser to retain qualified experts to detect and correct such matters.
Cooperating Broker PolicyNeither The Owner nor MAREM will pay a brokerage fee to, or share a brokerage commission with The Potential Purchaser, or a related and/or affiliated party to suchpurchaser, attempting to act as a cooperating broker. In addition, neither The Owner nor MAREM will pay a brokerage fee to, or share a brokerage commission with, acooperating broker representing The Potential Purchaser. However, notwithstanding the issue of commission, The Potential Purchaser may retain the brokeragerepresentative of its choice. All cooperating broker inquiries should be directed to the appropriate MAREM representative.
RemediesIf there is a breach or threatened breach of any provision of these Conditions of Offering, The Owner and/or MAREM shall be entitled to seek redress by courtproceedings in the form of an injunction restraining The Potential Purchaser without the necessity of showing any actual damages or that monetary damages would notafford an adequate remedy and/or a decree for specific performance without any bond or other security being required. Nothing herein shall be construed as prohibitingThe Owner and/or MAREM from pursuing any other remedies at law or in equity, which it may have. If The Owner and/ or MAREM is involved in a court proceeding toenforce the covenants contained in these Conditions of Offering and The Owner and/or MAREM prevails in such litigation, The Potential Purchaser shall be liable for thepayment of The Owner and/or MAREM’s reasonable attorneys’ fees, court costs and ancillary expenses together with such other and further relief as available underany applicable statute.
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
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15
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
• First time on market
• Offered at a low price per sf. Significantly lower than replacement cost
• Built in 1976. Renovated 2006
• Strong tenant lineup including Jimmy John’s, Waterfall Jewelers and Cricket Wireless. Weight Watchers, Waterfall Jewelers and Wing Lauk have been tenants since 1988, 1989 and 1999 respectively
• Excellent Value Add opportunity through lease up of vacant space at or below market rents
• Irreplaceable pylon signage on Dixie Highway
• Convenient access. Four total curb cuts, one of which is at a traffic signalized entrance off Dixie Highway
• Located on Dixie Highway between Andersonville Rd and Williams Lake Rd. Daily traffic counts are 35,346 vpd on Dixie Highway
• Average incomes within a 3 mile radius of the property is $72,627
• 52,393 people and 21,465 employees within a 3 mile radius of the property
• Area retailers include Kroger, Big Lots, Dunham’s Sports, Ollie’s Bargain Outlet, Pet Supplies Plus, O’Reilly Auto Parts and AutoZoneamong others
• Waterford is located in the affluent Oakland County, the second most populous county in the State of Michigan
Investment Highlights
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
Waterfall Plaza is located in Waterford, MI on Dixie Highway, between Andersonville Road and Williams Lake Rd on the area’s primary retail corridor. The property shares the Dixie Highway corridor with tenants such as Kroger to the north, Big Lots directly across the street and Pet Supplies
Plus, Dunham’s Sports, Ollie's Bargain Market among many others to the south. The residential area surrounding the property is filled with desirable neighborhoods located amongst the four lakes situated only minutes away from the property.
The Charter Township of Waterford is located in the geographic center of Oakland County, Michigan in the southeast portion of the state, 30 miles north of the City of Detroit. Waterford has a population of 71,707 making it the fifth largest Township by population in Michigan. It’s known as “A Lakeland Paradise in the Heart of Oakland County” as it comprises of 36 square miles with 34 inland lakes. Waterford is home to the Oakland County International Airport, Oakland County’s executive offices, the Oakland County intermediate school districts along with Oakland Community College.
Waterford offers award winning blue ribbon schools, state of the art fire and police facilities and an award winning department of public works.
Waterford Township residents attend three different public school districts. Most of Waterford is within the boundaries of the Waterford School District. Portions of the remainder of the Township attend Clarkston
public or Pontiac public schools.
Area Description
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
As-Is Rent Roll
Occupied 31,592 SF 74%
Vacant 10,998 SF 26%
Suite TenantSquare
Footage Expiration Rent PSF Annual Rent Recovery Gross Rent
5623 Wild Bill's Tobacco 1,200 3/31/2018 $19.50 $23,400 $7,164 $30,564
5625 Simply Natural Health Foods 2,190 2/28/2017 $17.50 $38,325 $0 $38,325
5629 United Vacuum 2,446 4/30/2020 $14.50 $35,467 $0 $35,467
5633 Blazing Bagels 974 5/31/2016 $15.00 $14,610 $4,091 $18,701
5635 Toy Box & Treasures 1,260 2/29/2020 $11.00 $13,860 $4,547 $18,407
5637 V Nails 1,260 9/30/2019 $18.60 $23,436 $0 $23,436
5639 Jimmy John's 1,260 1/31/2018 $15.45 $19,471 $4,712 $24,183
5641 Studio Azzaro (1) 1,260 7/31/2017 $16.19 $20,399 $0 $20,399
5643 Available 1,260 N/A $0 $0 $0 $0
5645 Signs By Your Design (2) 1,260 12/31/2017 $17.04 $21,470 $2,533 $24,003
5647 Waterfall Jewelers 3,060 6/30/2019 $20.30 $62,118 $0 $62,118
5651 Weight Watchers Group 1,890 9/30/2018 $16.25 $30,713 $7,428 $38,140
5655 Cricket Wireless 1,260 8/31/2017 $11.00 $13,860 $6,086 $19,946
5657 Liberty Tax Service (3) 1,260 4/30/2018 $12.36 $15,574 $7,522 $23,096
5659 Rogers Chiropractic Center 1,260 11/30/2019 $18.00 $22,680 $0 $22,680
5661 Plaza Beauty Supply 1,890 6/30/2019 $14.29 $27,000 $0 $27,000
5665 Wing Lauk, Inc. (4) 4,410 6/30/2018 $17.75 $78,278 $0 $78,278
5673 Available 1,618 N/A $0 $0 $0 $0
5677 Available 2,614 N/A $0 $0 $0 $0
5689 Check 'N Go 1,302 1/31/2018 $16.75 $21,809 $7,773 $29,581
5695 Available 1,302 N/A $0 $0 $0 $0
5701 Available 2,604 N/A $0 $0 $0 $0
5713 Trims and Togs (5) 2,150 6/30/2017 $16.94 $36,419 $0 $36,419
5725 Available 1,600 N/A $0 $0 $0 $0
TOTALS 42,590 $518,888 $51,855 $570,743
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell
(1) Rental Rate Commences 8/1/2015
(2) Rental Rate Commences 8/1/2015
(3) Lease Amendment Out For Signature
(4) Rental Rate Commences 7/1/2015
(5) Rental Rate Commences 7/1/2015
Richard Kerwin
T: 248-855-6800F: [email protected]
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
As-Is ProformaBuilding Square Footage 42,590
PSF Annual
Income
Base Rent $12.18 $518,888
Recoveries
Total Recovery $1.22 $51,855
Gross Rental Income $13.40 $570,743
Credit Loss (1) $0.00 $0.00
Effective Gross Income $13.40 $570,743
Expenses
Rec CAM (4) $1.41 $59,877
Rec Insurance $0.24 $10,123
Rec Real Estate Taxes $1.97 $83,697
Rec Management Fees (3) $0.40 $17,122
Non-Rec Utilities $0.37 $15,721
Non-Rec Maintenance/ Misc/Improvements $0.06 $2,404
Non-Rec Office and Administrative / Management $0.27 $11,349
Reserves (2) $0.15 $6,389
$4.85 $206,682
Net Operating Income $364,061
(1) We assume a 0% credit loss on the As-is rent roll, given the center's current occupany rate of 74%.
(2) Reserves are based on 42,590 square feet.
(3) Management Fees based on 3% of Gross Income.
(4) Does not include non-recurring expenses paid in 2014 for landscaping enhancement(s), exterior painting, electrical and lighting repair(s), and snow removal supplies.
Operating Expenses EstimatePer Square
Foot
CAM $59,877 $1.41
General/Office/R&M $0 $0
Total CAM $59,877 $1.41
Insurance $10,123 $0.24
Real Estate Taxes $83,697 $1.97
Management Fee $17,122 $0.40
Total Operating Expenses $170,819 $4.01
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
Suite TenantSquare
Footage Expiration Rent PSF Annual Rent Recovery Gross Rent
5623 Wild Bill's Tobacco 1,200 3/31/2018 $19.50 $23,400 $7,164 $30,564
5625Simply Natural Health Foods 2,190 2/28/2017 $17.50 $38,325 $0 $38,325
5629 United Vacuum 2,446 4/30/2020 $14.50 $35,467 $0 $35,467
5633 Blazing Bagels 974 5/31/2016 $15.00 $14,610 $4,091 $18,701
5635 Toy Box & Treasures 1,260 2/29/2020 $11 $13,860 $4,547 $18,407
5637 V Nails 1,260 9/30/2019 $18.60 $23,436 $0 $23,436
5639 Jimmy John's 1,260 1/31/2018 $15.45 $19,471 $4,712 $24,183
5641 Studio Azzaro 1,260 7/31/2017 $16.19 $20,399 $0 $20,399
5643 Available 1,260 N/A $15.00 $18,900 $4,464 $23,364
5645 Signs By Your Design 1,260 12/31/2017 $17.04 $21,470 $2,533 $24,003
5647 Waterfall Jewelers 3,060 6/30/2019 $20.30 $62,118 $0 $62,118
5651 Weight Watchers Group 1,890 9/30/2018 $16.25 $30,713 $7,428 $38,140
5655 Cricket Wireless 1,260 8/31/2017 $11.00 $13,860 $6,086 $19,946
5657 Liberty Tax Service 1,260 4/30/2018 $12.36 $15,574 $7,522 $23,096
5659Rogers Chiropractic Center 1,260 11/30/2019 $18.00 $22,680 $0 $22,680
5661 Plaza Beauty Supply 1,890 6/30/2019 $14.29 $27,000 $0 $27,000
5665 Wing Lauk, Inc. 4,410 6/30/2018 $17.75 $78,278 $0 $78,278
5673 Available 1,618 N/A $15.00 $24,270 $5,733 $30,003
5677 Available 2,614 N/A $14.00 $36,596 $9,262 $45,858
5689 Check 'N Go 1,302 1/31/2018 $16.75 $21,809 $7,773 $29,581
5695 Available 1,302 N/A $15.00 $19,530 $4,613 $24,143
5701 Available 2,604 N/A $14.00 $36,456 $9,226 $45,682
5713 Trims and Togs 2,150 6/30/2017 $16.94 $36,419 $0 $36,419
5725 Available 1,600 N/A $14.00 $22,400 $5,669 $28,069
TOTALS 42,590 $677,040 $90,823 $767,862
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
Stabilized Rent Roll
Occupied 100%
Vacant 0%
SuiteSquare
FeetMarket
RentAnnual
RentOperating Expenses
Gross Rent
5643 1,260 $15.00 $18,900 $4,464 $23,364
5673 1,618 $15.00 $24,270 $5,733 $30,003
5677 2,614 $14.00 $36,596 $9,262 $45,858
5695 1,302 $15.00 $19,530 $4,613 $24,143
5701 2,604 $14.00 $36,456 $9,226 $45,682
5725 1,600 $14.00 $22,400 $5,669 $28,069
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
Stabilized Proforma
(1) We assume a 10% credit loss on the stabilized rent roll, given the center's stabilized occupany rate of 100%.
(2) Reserves are based on 42,590 square feet.
(3) Management Fees based on 3% of Gross Income.
Building Square Footage 42,590
PSF Annual
Income
Base Rent $15.90 $677,040
Recoveries
Total Recovery $2.13 $90,823
Gross Rental Income $18.03 $767,862
Credit Loss (1) ($1.80) ($76,786)
Effective Gross Income $16.23 $691,076
Expenses
Rec CAM $1.33 $56,469
Rec Insurance $0.23 $9,932
Rec Real Estate Taxes $1.97 $84,500
Rec Management Fees (3) $0.49 $20,732
Non-Rec Maintenance/ Misc/Improvements $0.07 $2,775
Non-Rec Office and Administrative / Management $0.17 $7,322
Reserves (2) $0.15 $6,389
$188,119
Net Operating Income $502,957
Operating Expenses 2015 EstimatePer
Square Foot
CAM $56,469 $1.33
General & Office $0 $0
Total CAM $56,469 $1.33
Insurance $9,932 $0.23
Real Estate Taxes $84,500 $1.98
Management Fee $20,732 $0.49
Total Operating Expenses $171,633 $4.03
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
2014 Estimated Population 6,288 52,393 124,272
2019 Projected Population 6,378 53,148 126,048
2010 Census Population 6,262 52,184 123,782
2000 Census Population 6,233 54,287 122,588
Projected Annual Growth 2014 to 2019 0.30% 0.30% 0.30%
Historical Annual Growth 2000 to 2014 0.10% -0.20% 0.10%
2014 Median Age 38.4 40.2 38.4
2014 Estimated Households 2,495 21,474 50,287
2019 Projected Households 2,567 22,102 51,755
2010 Census Households 2,430 20,927 49,004
2000 Census Households 2,420 20,939 47,934
Projected Annual Growth 2014 to 2019 0.60% 0.60% 0.60%
Historical Annual Growth 2000 to 2014 0.20% 0.20% 0.40%
2014 Estimated White 90.60% 91.40% 83.80%
2014 Estimated Black or African American 3.10% 2.90% 8.70%
2014 Estimated Asian or Pacific Islander 1.30% 1.50% 1.90%
2014 Estimated American Indian or Native Alaskan 0.60% 0.40% 0.50%
2014 Estimated Other Races 4.30% 3.70% 5.20%
2014 Estimated Hispanic 7.60% 6.30% 8.90%
2014 Estimated Average Household Income $74,262 $72,627 $70,339
2014 Estimated Median Household Income $62,938 $61,411 $58,160
2014 Estimated Per Capita Income $29,489 $29,862 $28,711
2014 Estimated Elementary (Grade Level 0 to 8) 4.00% 2.30% 3.00%
2014 Estimated Some High School (Grade Level 9 to 11) 6.90% 6.50% 7.60%
2014 Estimated High School Graduate 29.50% 30.20% 28.80%
2014 Estimated Some College 27.90% 25.50% 25.70%
2014 Estimated Associates Degree Only 8.30% 9.60% 8.50%
2014 Estimated Bachelors Degree Only 16.00% 16.70% 17.30%
2014 Estimated Graduate Degree 7.40% 9.30% 9.10%
2014 Estimated Total Businesses 507 2,530 5,399
2014 Estimated Total Employees 3,627 21,465 52,148
2014 Estimated Employee Population per Business 7.2 8.5 9.7
2014 Estimated Residential Population per Business 12.4 20.7 23
1 Page Demographic Summary 1.00 mile 3.00 mile 5.00 mile
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]
Waterfall PlazaDixie Highway, Btw. Andersonville & Williams Lake RoadsWaterford, Michigan
Pricing
As is NOI: $364,061
Stabilized NOI: $502,957
Price: $4,100,000
Pricing
Waterfall Plaza offers a purchaser
the opportunity to acquire a highly
visible and established
neighborhood shopping center with
significant value-add potential.
Waterfall Plaza is being offered
“free and clear” of any existing
debt.
Contact
38500 Woodward Avenue, Suite 100Bloomfield Hills, MI 48304
www.midamericagrp.com
The information contained herein has either been given to us by the owner of the Shops At Bloomfield Place or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it.
T: 248-855-6800F: [email protected]
Brad Rosenberg
T: 248-855-6800F: [email protected]
Jared Gell Richard Kerwin
T: 248-855-6800F: [email protected]