Detroit, MI - Sale Leaseback Opportunity - Potential 10 CAP

[Mike Obrien]

Hello All,

I recently became notified of a property for sale in my organization that I believe can be a great opportunity for Industrial outdoor storage investors with a potential at a 10 cap.

The property is a truck terminal yard in Detroit, MI +/- 9 acres and the owner wants to do a long term sale leaseback (7 year term + (4) 5 - year extension options) with NNN rents.

Possible deal terms could be $4.2M purchase price with the seller paying $35,000/month NNN with 3% escalations.