12207 Grand River AveDetroit, MI 48204

For Sale
$1,190,000

High-yield, single-tenant retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a stabilized, single-tenant Family Dollar store located at 12207 Grand River Ave, Detroit, MI 48204. The 9,180 square foot building sits on a 0.75-acre lot and boasts a strong 9.00% cap rate, generating a net operating income (NOI) of $106,920. The property features a NN+ lease with a credit-rated tenant, ensuring consistent cash flow. The lease commenced on December 5, 2005, and has a remaining term of approximately 2.1 years, with five 5-year renewal options, each including a 10% rent increase. Built in 2005, this property benefits from its location at the hard corner of Grand River Avenue and Birwood Avenue, offering multiple points of access. The asking price is $1,190,000, translating to a price per square foot of $140. The property's strong demographics, situated in a densely populated area just 15 minutes from downtown Detroit, further enhance its investment appeal. This is a rare opportunity to acquire a well-performing, low-risk retail investment in a prime Detroit location. The property is 100% occupied. Wayne County APN: 18006828-35.

Highlights

  • Family Dollar single-tenant net lease in Detroit, MI.
  • NN+ lease with ~2.2 years remaining and five 5-year options.
  • High-visibility corner location at Grand River & Birwood Avenues with multiple access points.
  • Below-market rent per square foot; strong credit tenant, well below replacement cost.
  • 9,180 SF building on a 0.75-acre lot.
  • Excellent demographics for dollar stores; densely populated area, 15 minutes from downtown Detroit.

Property Details for 12207 Grand River Ave

Property type
Lifestyle centers, Power centers
Square Feet
9,180 SF
Year Built
2005
Lot Size (sq. ft)
32,670 SF

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.378415796634
Longitude
-83.16310566406
12207 Grand River Ave, Detroit, Michigan

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12207 Grand River Ave
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