7774 Sashabaw Rd is aretail property for lease in Clarkston, MI.
. New 20 Year Parking Lot Ground Lease
. Attractive 6% CAP; Corporate-Backed Absolute NNN Lease
. 27+ Acres with Frontage to Clarkston Road, Accommodating Approx. 2,200 Vehicles
. Pine Knob Holdings, Subsidiary of Palace Sports & Entertainment
. Over 40 Years of Operation at This Location
. Michigan’s Largest Outdoor Music Venue with 15,070 Seating
. Named the Nation’s Most Attended Amphitheater by Amusement Business/Billboard for 21 Years
. Located off I-75 at Sashabaw Road (Exit 89); Excellent Demographics
. Pride of Ownership
The Jonna Group of Marcus & Millichap is pleased to exclusively present this fee?simple DTE Energy Parking Lot Ground Lease offering located in Clarkston, MI, within affluent Oakland County. The north end parking lot ground lease is corporately backed by Pine Knob Holdings, LLC a subsidiary of Palace Sports & Entertainment.
The property consists of 27.43 acres of land which serves as an exclusive parking lot to a landmark entertainment venue attracting visitors throughout the Midwest. The subject site features access points via Sashabaw Road (DTE Energy Music Theaters Main Entrance) and Pine Knob Road. The site offers immediate ease of access to I-75 and is adjacent to a host of retail, office, and housing developments along the Sashabaw Road retail corridor. This unique offering affords an incoming investor a rare pride of ownership investment vehicle with a long term income stream often sought after due to an absolute NNN lease and the most secure form of ownership in fee simple ground leases. This rare site also presents a high future residual value due to the nature of the location and the high growth demographic of Clarkston with a 81,000+ population and $73,000+ Household Income within a 5 mile radius. Clarkston is also notably home to Pine Knob Ski Resort, Clarkston High School, Pine Knob Golf Course, and Everest Academy & High School. Within driving distance is also the Detroit Pistons Stadium known as The Palace Of Auburn Hills in addition to the largest University Campus in the State, Oakland University, as well as The Henry Ford Museum. Notably the site is also within minutes of the state’s most dominant retail and entertainment destination, attracting visitors throughout the Midwest and Canada, Taubman-Owned Great Lakes Crossings Mall. Great Lakes is home to Saks Fifth Avenue Off-5th, Neiman Marcus Last Call, LEGOLAND, AMC Theatres, SEA Life Aquarium, Bass Pro Shops, Banana Republic, Nike Factory Store, Bar Louie, and many others.
DTE Energy Theater has hosted the likes of Kid Rock, Bob Seger, Keith Urban, Jimmy Buffett, Dave Matthews Band, A$AP Rocky, Foo Fighters, Tim McGraw, Drake & Lil Wayne, Luke Bryan, and many more.
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- Kelly Higgs, agent and Rofo Pro