18592 9 Mile RdEastpointe, MI 48021

For Sale
$3,230,769

High-Yield, 20-Year NNN Lease

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 2,428 square foot Popeyes restaurant located at 18592 E 9 Mile Rd, Eastpointe, MI 48021. Built in 2014 on a 0.74-acre lot, this property boasts a 20-year triple-net (NNN) lease with a highly reputable tenant, the largest Popeyes franchisee in the system. The lease includes a 5.85% cap rate and a substantial net operating income (NOI) of $189,000. Rent increases are structured at 10% every five years, including option periods, providing significant long-term growth potential. Four 5-year renewal options extend the potential lease term to 40 years. The property enjoys exceptional visibility and accessibility, situated along E 9 Mile Road, a high-traffic thoroughfare with over 52,000 cars daily, and in close proximity to Interstate 94 (over 130,000 cars daily). This location benefits from its position within the Detroit Metro area, a major economic hub. The asking price is $3,230,769, representing a compelling investment with minimal landlord responsibilities and strong tenant guarantees. The property is 100% occupied. This is a rare opportunity to acquire a secure, high-performing asset with substantial long-term income potential.

Highlights

  • Brand new 20-year triple-net (NNN) lease with zero landlord responsibilities.
  • Excellent guaranty; operated by the largest Popeyes franchisee in the system.
  • Attractive rental increases of 10% every 5 years, including option periods.
  • Four 5-year tenant renewal options extending the potential lease term to 40 years.
  • High-visibility location on E 9 Mile Road (52,000+ cars daily) with close proximity to I-94 (130,000+ cars daily).
  • Located in the Detroit Metro area, a major economic hub.

Property Details for 18592 9 Mile Rd

Property type
Other retail properties, Individual retail properties
Square Feet
2,428 SF
Year Built
2014
Lot Size (sq. ft)
32,234 SF

Location Insight

City
Eastpointe
County
Macomb
State
Michigan
Latitude
42.46548091
Longitude
-82.92884044
18592 9 Mile Rd, Eastpointe, Michigan

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18592 9 Mile Rd
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