14305 Harper AveDetroit, MI 48213

For Sale
$1,220,000

High-yield, single-tenant retail investment.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a single-tenant, net-leased Family Dollar store situated at 14305 Harper Ave, Detroit, MI 48213. The 8,000 square foot building, constructed in 2004 and renovated in 2015, sits on a 0.35-acre lot at a hard corner location with multiple access points. The property boasts a strong 9.02% cap rate, generating a net operating income (NOI) of $110,000. The lease, a NN+ structure with a credit-rated tenant, commenced January 15, 2004, and expires June 30, 2027, offering a remaining lease term of approximately 2.6 years, plus two 5-year renewal options with 10% rent bumps every 5 years. The property benefits from 100% occupancy and is situated in a densely populated area, just 15 minutes from downtown Detroit. This stabilized investment offers a compelling combination of strong tenant credit, a favorable lease structure, and a high-performing asset well below replacement cost. The asking price is $1,220,000. Wayne County APN: 21004370-0.

Highlights

  • Family Dollar single-tenant net lease property in Detroit, MI.
  • 2015 renovation.
  • NN+ lease: ~2.7 years remaining, two 5-year options.
  • High-visibility corner location at Harper Ave & Chalmers St. with multiple access points.
  • Below replacement cost, strong credit tenant, low rent per square foot.
  • 8,000 SF building on 0.35 acres.

Property Details for 14305 Harper Ave

Property type
Lifestyle centers, Power centers
Square Feet
8,000 SF
Year Built/Renovated
2004/2015
Lot Size (sq. ft)
15,246 SF

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.404407822826
Longitude
-82.965583548153
14305 Harper Ave, Detroit, Michigan

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14305 Harper Ave
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