For Sale
$400,000

19000 Warren AveDetroit, MI 48228

High-Yield Convenience Store, Net Lease

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a 2,562 square foot convenience store/supermarket located at 19000 W. Warren Ave, Detroit, MI 48228. The property, a single-story Class B building on a 0.22-acre lot, boasts 20 parking spaces and is situated on W. Warren Avenue between Evergreen and Southfield Freeway. Currently operating at 100% occupancy under a triple-net (NN) lease with three years remaining and lease options, this property offers a strong, stable income stream. The building underwent renovations in 2023, including brand new mechanical systems, ensuring long-term operational efficiency. The asking price is $400,000, representing an attractive 8.70% cap rate with a current Net Operating Income (NOI) of $34,800. The property is zoned B4 and features a single tenant in a single unit. This is an ideal investment for those seeking a low-risk, high-return retail property in a prime Detroit location. The property's strong tenant, recent renovations, and favorable lease terms make it a compelling investment opportunity.

Highlights

  • Retail building for sale; supermarket/convenience store tenant.
  • Building features brand new mechanical systems.
  • Triple-net lease with three years remaining plus options.
  • 20 on-site parking spaces.
  • Excellent location on W. Warren Ave. between Evergreen and Southfield Freeway.

Property Details for 19000 Warren Ave

Property type
Retail properties, Retail space
Square Feet
2,562 SF
Class
B
Year Renovated
2023
Buildings
1
Stories
1
Lot Size (sq. ft)
9,583 SF
Units
1

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.343302
Longitude
-83.22597699
19000 Warren Ave, Detroit, Michigan

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
19000 Warren Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message