Retail · Canton, Michigan
41725 Ford Road
41725 Ford Road is financed with a $6.5M CMBS loan at 4.974% that reaches maturity on June 6, 2027, in 7 months. As of the Sep 2026 servicer report, the latest filed for this loan, its status is current.
The loan
- Balance in tracked trusts
- $6,454,533
- Original balance (same notes)
- $7,700,000
- Interest rate
- 4.974% fixed
- Originated
- May 15, 2017
- Maturity
- June 6, 2027
- Payments
- Amortizing over 30 years
- Prepayment lockout ends
- March 5, 2027
- Master servicer
- Trimont LLC
- Originator
- UBSAG
Status
- Payment status
- Current (code 0)
- Special servicing
- No transfer reported
- Defeasance
- None reported
The property
- Address
- 41725-41865 Ford Road, Canton, MI 48187
- Metro
- Detroit-Warren-Dearborn, MI
- Rentable area
- 20,902 sq ft
- Built
- 2010
- Largest tenants
- Select Comfort Retail Corp; Olgas Kitchen; Shake Shack Michigan LLC
- Value at securitization
- $11.8M (Apr 2017)
Performance
| At securitization | Latest (Jun 2026) | |
|---|---|---|
| DSCR (NOI) | 1.46x | 1.08x |
| Occupancy | 100% | 85% |
| Net operating income (annualized from 6 months) | $720K | $539K |
| Debt yield | 8.3% |
Debt yield here is the latest NOI divided by the balance held in the trusts below. If part of the loan sits outside them, the true figure is lower.
Watch flags
Computed from the Wells Fargo Commercial Mortgage Trust 2017-C38 filing for the reporting period ending September 11, 2026, filed with the SEC September 29, 2026.
- Coverage down 0.25x or more from securitization
- Occupancy down 10 points or more from securitization
- NOI down 20% or more from securitization
- Matures within 12 months
- Largest tenant's lease ends within 12 months
cmbs.news's own rule-based labels on the filed fields (definitions), not a credit rating, a prediction or a view of the borrower.
What the filing shows
- Occupancy has fallen from 100% when the loan was securitized to 85%.
- Net operating income is 25% below the underwritten figure ($539K a year against $720K; the latest statement covers 6 months, annualized).
- Debt service coverage moved from 1.46x at securitization to 1.08x on the latest statements.
The last 12 monthly reports
| Report month | Balance | Payment status | Special servicer | DSCR | Occupancy |
|---|---|---|---|---|---|
| September 2026 | $6.5M | Current | No | 1.08x | 85% |
| August 2026 | $6.5M | Current | No | 1.22x | 88% |
| July 2026 | $6.5M | Current | No | 1.22x | 88% |
| June 2026 | $6.5M | Current | No | 1.22x | 88% |
| May 2026 | $6.5M | Current | No | 1.22x | 88% |
| April 2026 | $6.5M | Current | No | 1.10x | 88% |
| March 2026 | $6.5M | Current | No | 1.10x | 88% |
| February 2026 | $6.6M | Current | No | 1.10x | 88% |
| January 2026 | $6.6M | Current | No | 1.10x | 88% |
| December 2025 | $6.6M | Current | No | 1.10x | 88% |
| November 2025 | $6.6M | Current | No | 1.10x | 88% |
| October 2025 | $6.6M | Current | No | 1.38x | 89% |
From each trust's ABS-EE filing for that month. Coverage and occupancy change only when the servicer reports new statements. If one trust holding a piece of the loan skipped a month, that month's balance reads low.
Where the loan sits
One trust holds this loan in the data.
| Trust | Loan no. | Balance | Report period | Source |
|---|---|---|---|---|
| Wells Fargo Commercial Mortgage Trust 2017-C38 | 39 | $6,454,533 | Sep 2026 | SEC filing, September 29, 2026 |
Other Detroit-Warren-Dearborn loans due in 2027
| Property | Location | Type | Balance | Rate | Matures | DSCR | Occ. | Status |
|---|---|---|---|---|---|---|---|---|
| One Ally Center | Detroit, MI | Office | $102.0M | 4.516% | Dec 2027 | 4.54x | 89% | Current |
| The Townsend Hotel | Birmingham, MI | Hotel | $35.0M | 4.17% | Oct 2027 | 2.13x | 69% | Current |
| Bank of America Plaza | Troy, MI | Office | $33.7M | 4.055% | May 2027 | 1.33x | 60% | Current |
| 150 West Jefferson, Detroit (2027 maturity), loan 6 in Morgan Stanley Capital I Trust 2017-HR2 | Detroit, MI | Office | $32.9M | 4.603% | Dec 2027 | 3.89x | 84% | Current |
| 150 West Jefferson, Detroit (2027 maturity), loan 8 in Wells Fargo Commercial Mortgage Trust 2017-C42 | Detroit, MI | Office | $30.5M | 4.603% | Dec 2027 | 3.89x | 84% | Current |
| Bingham Office Center | Bingham Farms, MI | Office | $26.1M | 4.254% | May 2027 | n/a | n/a | Current |
| Lormax Stern Retail Development - Roseville | Roseville, MI | Retail | $25.4M | 5.274% | Jun 2027 | 1.98x | 93% | Current |
| Long Lake Crossing | Troy, MI | Office | $21.0M | 6.11% | Mar 2027 | 1.07x | 79% | With the special servicer and 90+ days delinquent |
All loans maturing in 2027 · All Detroit-Warren-Dearborn loans
Source: each trust's ABS-EE asset-data exhibit (Regulation AB Schedule AL) on SEC EDGAR, reporting period ending September 11, 2026. Servicers report these figures; cmbs.news does not audit them. How this page is built.