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Max Lippitt

Landmark
Investment Sales
Senior Director

15Active Listings
$39,022,023Active Volume
0Under Contract
$0Volume
3Closed Transactions
$8,784,871Sold Volume

Maxwell Lippitt graduated from Michigan State University in 2016 with a Bachelor of Science degree in Economics. During College, Max was an intern in Landmark’s Investment Sales department. Upon graduating, Max became an associate broker at CBRE specializing in the disposition of single tenant medical, retail, and office properties. While at CBRE, Max researched, sourced, and tracked thousands of investment properties while building strong relationships with a wide variety of property owners all across the country. Since joining Landmark in 2018, Max has closed on over $500,000,000 worth of investment deals across the country while also assisting in all aspects of his client’s 1031 exchanges. In 2022, Max was promoted to Director where he continues to specialize in the representation of both buyers and sellers in retail, medical, industrial assets across the country.

D (248) 488-2620

M (248) 514-8156

Visit Website

[email protected]

@Linkedin

Licensed in: MI

30500 Northwestern Hwy, Ste 200 Farmington Hills, MI 48334

Broker Bio Link

Active Listing

Under Contract
Sold Transactions

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Dollar Tree

408 West Maumee Street, Adrian, MI , 49221

Size SF19,833
Built/Renov1961/2023
Price/SF$87
Lease Start06-01-2024
Rent/SF$7.34
Lease Type NN+
Lot/AC3.83
Pop 5MI36,254

OM
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max lippitt

(248) 514-8156

daniel kukes

(248) 488-2620

1,732,143

Cap Rate 8.40%
NOI $145,500
R. Term/Yrs 9.5
Guarantor Corp R + T
# Units 16,700

View CONTACT

Highlights
Map
Tenant

Recent renovation
In location for years
Near major nationals
Strategically located
Highway close
Brand new lease
Favorable NN+ lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Tenant Dollar Tree
Guarantor Corp T and Rated
#Units 16,700
Moody's/S&P Baa2/ BBB
Stock NASDAQ: DLTR

Texas Roadhouse (GL)

18555 Silver Parkway, Fenton, MI , 48430

Size SF8,160
Built/Renov2023
Price/SF$303
Lease Start03-01-2023
Rent/SF$15.93
Lease Type Double NN
Lot/AC1.62
Pop 5MI46,341

Add To Email Basket

max lippitt

(248) 514-8156

daniel kukes

(248) 488-2620

2,476,190

Cap Rate 5.25%
NOI $130,000
R. Term/Yrs 13.1
Guarantor Corp Traded
# Units 635

View CONTACT

Highlights
Map
Tenant

New construction
Build to suit
Near major nationals
Shopping Ctr out-parcel
Freeway close
Affluent AHHI $100K 5 Mi
Major MSA
Long 10+ yr lease
Corporate Guarantee
Publicly traded company

...

Tenant Texas Roadhouse
Guarantor Corp Traded
#Units 635
Stock NASDAQ: TXRH

Family Dollar

8791 KY-1, Grayson, KY , 41143

Size SF9,190
Built/Renov2019
Price/SF$144
Lease Start09-01-2019
Rent/SF$10.79
Lease Type Double NN
Lot/AC0.93
Pop 5MI3,117

OM
Add To Email Basket

max lippitt

(248) 514-8156

daniel kukes

(248) 488-2620

1,321,920

Cap Rate 7.50%
NOI $99,144
R. Term/Yrs 4.9
Guarantor Corp R + T
# Units 8,359

View CONTACT

Highlights
Map
Tenant

Build to suit
Strategically located
Highway location
Major MSA
Limited competition
Corporate Guarantee
Investment grade tenant

...

Tenant Family Dollar
Guarantor Corp T and Rated
#Units 8,359
Moody's/S&P Baa2/ BBB
Stock NASDAQ: DLTR

Pepsi Co | Frito-Lay

291 Jari Drive, Johnstown, PA , 15904

Size SF19,200
Built/Renov2024
Price/SF$226
Lease Start08-01-2024
Rent/SF$17.55
Lease Type Modified Gross
Lot/AC3.61
Pop 5MI41,982

OM
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daniel kukes

(248) 488-2620

max lippitt

(248) 514-8156

4,348,541

Cap Rate 7.75%
NOI $337,012
R. Term/Yrs 6.7
Guarantor Corp R + T
# Units 64

View CONTACT

Highlights
Map
Tenant

New construction
Build to suit
Relocation store
Near major nationals
Strategically located
Freeway close
Brand new lease
Traded and rated company
Corporate Guarantee
Investment grade tenant

...

Tenant Pepsi Co | Frito-Lay
Guarantor Corp T and Rated
#Units 64
Moody's/S&P A1/ A+
Stock NASDAQ: PEP

Smokey Bones

7848 Mall Road, Florence, KY , 41042

Size SF7,200
Built/Renov2005
Price/SF$265
Lease Start12-13-2005
Rent/SF$17.24
Lease Type Abs NNN
Pop 5MI143,444

OM
Add To Email Basket

daniel kukes

(248) 488-2620

max lippitt

(248) 514-8156

1,909,492

Cap Rate 6.50%
NOI $124,117
R. Term/Yrs 1.0
Guarantor Corp Traded
# Units 61

View CONTACT

Highlights
Map
Tenant

In location for years
Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Long operation history
Absolute NNN
Corporate Guarantee
Publicly traded company

...

Tenant Smokey Bones
Guarantor Corp Traded
#Units 61
Stock NASDAQ: FAT

Tractor Supply Company

717 East Lake Shore Drive, Manistique, MI , 49854

Size SF35,299
Built/Renov2000/2020
Price/SF$63
Lease Start05-15-2020
Rent/SF$4.08
Lease Type Double NN
Lot/AC3.93
Pop 5MI4,588

OM
Add To Email Basket

daniel kukes

(248) 488-2620

max lippitt

(248) 514-8156

2,215,385

Cap Rate 6.50%
NOI $144,000
R. Term/Yrs 5.4
Guarantor Corp R + T
# Units 2,414

View CONTACT

Highlights
Map
Tenant

Recent renovation
Near major nationals
Strategically located
Strong tenant synergy
Limited competition
Traded and rated company
Over 2000 units backed
Corporate Guarantee

...

Tenant Tractor Supply Company
Guarantor Corp T and Rated
#Units 2,414
Moody's/S&P Baa1/ BBB
Stock NASDAQ: TSCO

Tractor Supply Company

91 West Pine Lake Drive, Newaygo, MI , 49337

Size SF34,886
Built/Renov2000/2020
Price/SF$64
Lease Start05-15-2020
Rent/SF$4.13
Lease Type Double NN
Lot/AC3.71
Pop 5MI10,397

OM
Add To Email Basket

daniel kukes

(248) 488-2620

max lippitt

(248) 514-8156

2,215,385

Cap Rate 6.50%
NOI $144,000
R. Term/Yrs 5.4
Guarantor Corp R + T
# Units 2,414

View CONTACT

Highlights
Map
Tenant

Recent renovation
Hard corner intersection
Dense retail corridor
Near major nationals
Strategically located
Traded and rated company
Over 2000 units backed
Corporate Guarantee
Investment grade tenant

...

Tenant Tractor Supply Company
Guarantor Corp T and Rated
#Units 2,414
Moody's/S&P Baa1/ BBB
Stock NASDAQ: TSCO

JOANN

600 Brown Road, Auburn Hills, MI , 48326

Size SF44,015
Built/Renov2000
Price/SF$171
Lease Start02-01-2009
Rent/SF$12.00
Lease Type Double NN
Lot/AC8.81
Pop 5MI133,210

OM
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max lippitt

(248) 514-8156

daniel kukes

(248) 488-2620

7,545,428

Cap Rate 7.00%
NOI $528,180
R. Term/Yrs 1.1
Guarantor Corp R + T
# Units 833

View CONTACT

Highlights
Map
Tenant

In location for years
Dense retail corridor
Near major nationals
Freeway visibility
Top 100 MSA
Strong demographics
Long operation history
Traded and rated company
Corporate Guarantee
Over 500 units backed

...

Tenant JOANN
Guarantor Corp T and Rated
#Units 833
Moody's/S&P Caa2/ CCC+
Stock NASDAQ: JOAN

Citizens Bank

7205 North Wayne Road, Westland, MI , 48185

Size SF3,007
Built/Renov1965
Price/SF$552
Lease Start06-29-2020
Rent/SF$33.26
Lease Type Abs NNN
Lot/AC1.10
Pop 5MI284,027

OM
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max lippitt

(248) 514-8156

1,660,000

Cap Rate 6.02%
NOI $100,000
R. Term/Yrs 1.6
Guarantor Corp R + T
# Units 1,100

View CONTACT

Highlights
Map
Tenant

Signalized intersection
In location for years
High traffic 50M+ VPD
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Absolute NNN
Annual rent increases
Traded and rated company
Investment grade tenant

...

Tenant Citizens Bank
Guarantor Corp T and Rated
#Units 1,100
Moody's/S&P A3/ A-
Stock NYSE: CFG

Subway

19615 Plymouth Road, Detroit, MI , 48228

Size SF1,828
Built/Renov1973
Price/SF$137
Lease Start12-13-2002
Rent/SF$9.38
Lease Type NN+
Lot/AC0.24
Pop 5MI390,187

OM
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daniel kukes

(248) 488-2620

max lippitt

(248) 514-8156

250,000

Cap Rate 6.86%
NOI $17,150
R. Term/Yrs 0.3
Guarantor Corporate
# Units 37,000

View CONTACT

Highlights
Map
Tenant

In location for years
Strategically located
Freeway close
Strong tenant synergy
Dense 200M+ pop 5 mi
Top 100 MSA
Long operation history
Strong sales history
Favorable NN+ lease
Corporate Guarantee

...

Tenant Subway
Guarantor Corporate
#Units 37,000
Stock Private

Shell (GL)

1780 Clinton Road, Jackson, MI , 49202

Size SF2,559
Built/Renov1991
Price/SF$912
Lease Start11-01-1991
Rent/SF$54.71
Lease Type Abs NNN
Lot/AC0.51
Pop 5MI75,905

OM
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max lippitt

(248) 514-8156

daniel kukes

(248) 488-2620

2,333,333

Cap Rate 6.00%
NOI $140,000
R. Term/Yrs 11.10
Guarantor Franchisee
# Units 64

View CONTACT

Highlights
Map
Tenant

In location for years
Shopping Ctr out-parcel
Highway location
Strong tenant synergy
Top 100 MSA
Absolute NNN
Long 10+ yr lease
Accelerated depreciation
Traded and rated company
50+ unit franchisee backed

...

Tenant Shell (GL)
Guarantor Franchisee
#Units 64
Moody's/S&P Aa2/ A
Stock NYSE: SHEL

OfficeMax

1541 River Valley Cir N, Lancaster, OH , 43130

Size SF23,484
Built/Renov1998
Price/SF$150
Lease Start09-01-1998
Rent/SF$10.50
Lease Type Double NN
Lot/AC3.24
Pop 5MI52,278

OM
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daniel kukes

(248) 488-2620

max lippitt

(248) 514-8156

3,522,600

Cap Rate 7.00%
NOI $246,582
R. Term/Yrs 3.8
Guarantor Corp Traded
# Units 916

View CONTACT

Highlights
Map
Tenant

In location for years
Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Strategically located
Strong tenant synergy
Top 100 MSA
Long operation history
Corporate Guarantee
Publicly traded company

...

Tenant OfficeMax
Guarantor Corp Traded
#Units 916
Stock NASDAQ: ODP

Dollar General

11378 OK-3, Lane, OK , 74555

Size SF9,026
Built/Renov2017
Price/SF$159
Lease Start05-17-2017
Rent/SF$8.44
Lease Type Abs NNN
Lot/AC1.00
Pop 5MI18,714

OM
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daniel kukes

(248) 488-2620

max lippitt

(248) 514-8156

1,438,189

Cap Rate 5.30%
NOI $76,224
R. Term/Yrs 7.5
Guarantor Corp R + T
# Units 19,986

View CONTACT

Highlights
Map
Tenant

Build to suit
Strategically located
Store sales reported
Absolute NNN
Limited competition
Top performing store
Traded and rated company
Over 2000 units backed
Corporate Guarantee
Investment grade tenant

...

Tenant Dollar General
Guarantor Corp T and Rated
#Units 19,986
Moody's/S&P Baa2/ BBB
Stock NYSE: DG

Five Below

3450 West South Airport Road, Traverse City, MI , 49684

Size SF9,000
Built/Renov2020
Price/SF$257
Lease Start12-01-2023
Rent/SF$18.00
Lease Type Double NN
Pop 5MI49,723

OM
Add To Email Basket

max lippitt

(248) 514-8156

daniel kukes

(248) 488-2620

2,314,286

Cap Rate 7.00%
NOI $162,000
R. Term/Yrs 8.11
Guarantor Corp Traded
# Units 1,694

View CONTACT

Highlights
Map
Tenant

High traffic 50M+ VPD
Dense retail corridor
Near major nationals
Shopping Ctr out-parcel
Strategically located
Highway location
Strong tenant synergy
Long 10+ yr lease
Corporate Guarantee
Publicly traded company

...

Tenant Five Below
Guarantor Corp Traded
#Units 1,694
Stock NASDAQ: FIVE

Longhorn Steakhouse (GL)

86 West 14 Mile Road, Troy, MI , 48083

Size SF8,329
Built/Renov2022
Price/SF$449
Lease Start09-01-2022
Rent/SF$25.81
Lease Type Abs NNN
Lot/AC1.67
Pop 5MI298,178

OM
Add To Email Basket

max lippitt

(248) 514-8156

daniel kukes

(248) 488-2620

3,739,131

Cap Rate 5.75%
NOI $215,000
R. Term/Yrs 7.8
Guarantor Corp R + T
# Units 563

View CONTACT

Highlights
Map
Tenant

New construction
Signalized intersection
High traffic 50M+ VPD
Dense retail corridor
Shopping Ctr out-parcel
Freeway close
Strong demographics
Absolute NNN
Traded and rated company
Investment grade tenant

...

Tenant LongHorn Steakhouse
Guarantor Corp T and Rated
#Units 563
Moody's/S&P Baa2/ BBB
Stock NYSE: DRI

Filters63 Results

Price: $3,350,000 - $5,750,000 ×
Cap Rate: 5,000% - 7,000% ×
Price/SF: $552 - $1025 ×
Year Built: 1984 - 2016 ×
Lease Type: Any ×
Guarantor: 1 Unit - Corp AAA ×
R. Term Yrs/Mos: 6/06-25 ×
Building Size/SF: 150,000F - 254,000F ×
Population 5 Miles: 35,500 - 75,500 ×
AHHI 5Miles: $56,000 - $105,000 ×

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Type

Tenant

City

Price

Cap Rate

NOI

Size/SF

Price/SF

Rent/SF

Built/Renov

Lot/AC

Lease Type

Guarantor

# Units

Credit S&P

R Term
(Yrs)

Pop (5Mi)
(000)

$ AHHI (5Mi)
(000)

Traffic Count
(000)

Brokerage

Status

Added

Update

DOM

Contact Broker

Listing Broker(s)

Dollar/Discount

Dollar Tree

Adrian

$1,732,143

8.40%

$145,500

19,833

$87

$7.34

1961/2023

3.83

NN+

Corp T + R

16,700

BBB

9.5

36,254

$69,326

6,183

Landmark

10.09.2024

10.31.2024

max lippitt
daniel kukes

Casual Dining

Texas Roadhouse (GL)

Fenton

$2,476,190

5.25%

$130,000

8,160

$303

$15.93

2023

1.62

Double NN

Corp Traded

635

Not Rated

13.1

46,341

$129,985

6,114

Landmark

07.04.2024

10.31.2024

174

max lippitt
daniel kukes

Dollar/Discount

Family Dollar

Grayson

$1,321,920

7.50%

$99,144

9,190

$144

$10.79

2019

0.93

Double NN

Corp T + R

8,359

BBB

4.9

3,117

$68,576

1,898

Landmark

06.26.2024

10.31.2024

181

max lippitt
daniel kukes

Industrial

Pepsi Co | Frito-Lay

Johnstown

$4,348,541

7.75%

$337,012

19,200

$226

$17.55

2024

3.61

Modified Gross

Corp T + R

A+

6.7

41,982

$84,723

Landmark

04.23.2024

10.31.2024

246

daniel kukes
max lippitt

Casual Dining

Smokey Bones

Florence

$1,909,492

6.50%

$124,117

7,200

$265

$17.24

2005

Absolute NNN

Corp Traded

Not Rated

1.0

143,444

$109,285

16,043

Landmark

01.27.2024

10.31.2024

334

daniel kukes
max lippitt

General Retail

Tractor Supply Company

Manistique

$2,215,385

6.50%

$144,000

35,299

$63

$4.08

2000/2020

3.93

Double NN

Corp T + R

2,414

BBB

5.4

4,588

$68,239

6,574

Landmark

11.29.2023

10.31.2024

393

daniel kukes
max lippitt

General Retail

Tractor Supply Company

Newaygo

$2,215,385

6.50%

$144,000

34,886

$64

$4.13

2000/2020

3.71

Double NN

Corp T + R

2,414

BBB

5.4

10,397

$74,602

6,522

Landmark

11.29.2023

10.31.2024

393

daniel kukes
max lippitt

General Retail

JOANN

Auburn Hills

$7,545,428

7.00%

$528,180

44,015

$171

$12.00

2000

8.81

Double NN

Corp T + R

833

CCC+

1.1

133,210

$93,137

17,730

Landmark

10.21.2023

10.31.2024

432

max lippitt
daniel kukes

Bank/Financial

Citizens Bank

Westland

$1,660,000

6.02%

$100,000

3,007

$552

$33.26

1965

1.10

Absolute NNN

Corp T + R

1,100

A-

1.6

284,027

$77,130

56,638

Landmark

10.21.2023

10.31.2024

432

max lippitt

Fast Food/QSR

Subway

Detroit

$250,000

6.86%

$17,150

1,828

$137

$9.38

1973

0.24

NN+

Corporate

37,000

Not Rated

0.3

390,187

$56,772

11,767

Landmark

10.21.2023

10.31.2024

432

daniel kukes
max lippitt

Convenience/Gas

Shell (GL)

Jackson

$2,333,333

6.00%

$140,000

2,559

$912

$54.71

1991

0.51

Absolute NNN

Franchisee

11.10

75,905

$74,985

26,488

Landmark

10.20.2023

10.31.2024

433

max lippitt
daniel kukes

General Retail

OfficeMax

Lancaster

$3,522,600

7.00%

$246,582

23,484

$150

$10.50

1998

3.24

Double NN

Corp Traded

916

Not Rated

3.8

52,278

$83,690

20,845

Landmark

10.20.2023

10.31.2024

433

daniel kukes
max lippitt

Dollar/Discount

Dollar General

Lane

$1,438,189

5.30%

$76,224

9,026

$159

$8.44

2017

1.00

Absolute NNN

Corp T + R

19,986

BBB

7.5

18,714

$61,173

3,829

Landmark

10.20.2023

10.31.2024

433

daniel kukes
max lippitt

Dollar/Discount

Five Below

Traverse City

$2,314,286

7.00%

$162,000

9,000

$257

$18.00

2020

Double NN

Corp Traded

1,694

Not Rated

8.11

49,723

$74,147

45,404

Landmark

10.20.2023

10.31.2024

433

max lippitt
daniel kukes

Casual Dining

Longhorn Steakhouse (GL)

Troy

$3,739,131

5.75%

$215,000

8,329

$449

$25.81

2022

1.67

Absolute NNN

Corp T + R

563

BBB

7.8

298,178

$96,310

54,030

Landmark

10.20.2023

10.31.2024

433

max lippitt
daniel kukes

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Max Lippitt

408 West Maumee Street, Adrian, MI , 49221

1,732,143

18555 Silver Parkway, Fenton, MI , 48430

2,476,190

8791 KY-1, Grayson, KY , 41143

1,321,920

291 Jari Drive, Johnstown, PA , 15904

4,348,541

7848 Mall Road, Florence, KY , 41042

1,909,492

717 East Lake Shore Drive, Manistique, MI , 49854

2,215,385

91 West Pine Lake Drive, Newaygo, MI , 49337

2,215,385

600 Brown Road, Auburn Hills, MI , 48326

7,545,428

7205 North Wayne Road, Westland, MI , 48185

1,660,000

19615 Plymouth Road, Detroit, MI , 48228

250,000

1780 Clinton Road, Jackson, MI , 49202

2,333,333

1541 River Valley Cir N, Lancaster, OH , 43130

3,522,600

11378 OK-3, Lane, OK , 74555

1,438,189

3450 West South Airport Road, Traverse City, MI , 49684

2,314,286

86 West 14 Mile Road, Troy, MI , 48083

3,739,131

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