Former Summit Mall

Retail-Commercial for Sale
Also listed as Office, Industrial
Catylist Listing ID: 29928796
Property Subtypes: Mixed Use
Building Size (RSF): 1,100,000 SF
Gross Building Area: See Agent
Gross Land Area: 73.10 Acres
Sale Price: $5,998,000
Unit Price: $5.45 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller, Purchase Money Mortgage, Owner Financing, Build-to-Suit
Cap Rate: Undisclosed
Last Updated: 1/19/2019

Overview / Comments

• Approximately 73.1 Acres
• Total building area: 1,100,000 SF
• Adaptive reuse for Corporate Headquarters
• Buildings core and shell may be repurposed
• Land and buildings are divisible for redevelopment
• Zoned: C4 Extensive Business District; Some mixed uses include: multi-family residential, senior living, industrial, high tech, retail, office, hotel and call center
• Possible tax abatement and significant tax incentives available for redevelopment of the site
• Located in the center of prosperous Oakland County with strong neighboring communities such as Bloomfield Hills, West Bloomfield, City of Pontiac, Village of Clarkston & Keego Harbor/Sylvan Lake
• Strong demographics and traffic counts
• Heavy power and infrastructure in place

2017 Taxes:
Parcel 13-25-200-030 (71 Acres): Summer $34,440.61 / Winter $11,403.04
Parcel 13-25-200-013 (1.67 Acres): Summer $2,196.67 / Winter $664.48
Parcel 13-25-200-004 (0.45 Acres): Summer $1,589.74 / Winter $489.04
Total 2017 taxes for all three (3) parcels: $50,783.58


Finance Data Year 2015
Real Estate Taxes - Annual($) $110,747 (Annual)

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Lakes Area
Tax ID/APN: 13-25-200-030; 013; 004
Property Located Between: Telegraph & Summit Dr
Property Visibility: Excellent
Largest Nearby Street: Telegraph
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,638 88,351 191,263
Median Age: 37.1 36.66 38.98
Households: 5,135 34,920 75,728
The information presented herein is provided as is, without warranty of any kind. Neither Commercial Property Information Exchange (CPIX) nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.