For Sale
$930,000

12730 7 Mile RdDetroit, MI 48235

Fully Leased, High-Cap Rate Retail Building

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a fully leased, three-tenant retail building situated at 12730 West 7 Mile Road in Detroit, Michigan. The property boasts a total of 3,563 square feet, currently occupied at 100% capacity by Boost, Exotic Cloudz, and Floral Gardens. Each tenant holds a lease with a minimum of five to ten years remaining, secured by personal or corporate guarantees, ensuring a stable and predictable income stream. The building's prime location on 7 Mile Road and Meyers, across from the only Home Depot in Detroit, benefits from high population density and significant foot traffic. The property offers a compelling 8.60% capitalization rate and a strong net operating income (NOI) of $76,775, making it an attractive addition to any investment portfolio. The asking price is $930,000, translating to a price per square foot of $261.02. This is a newly developed, turnkey investment property, requiring no immediate tenant acquisition or vacancy management. The property's strong tenant roster, favorable lease terms, and strategic location in a high-density area of Detroit combine to create a highly desirable investment opportunity with significant potential for long-term growth and return. The property is a triple-net (NNN) lease, meaning tenants are responsible for property taxes, insurance, and maintenance. This minimizes the owner's operational responsibilities and maximizes passive income potential. The zip code is 48235.

Highlights

  • $930,000 asking price for a 3,563 square foot retail property.
  • NNN lease structure with three tenants (Boost, Exotic Cloudz, Floral Gardens).
  • 100% occupancy with a strong 8.60% cap rate and $76,775 NOI.
  • Located at 12730 W 7 Mile Rd, Detroit, MI 48235, across from a Home Depot.
  • Tenants have long-term leases (5-10 years remaining) with personal/corporate guarantees.

Property Details for 12730 7 Mile Rd

Property type
Retail properties, Retail space
Square Feet
3,563 SF
Units
3

Location Insight

City
Detroit
County
Wayne
State
Michigan
Latitude
42.431530851743
Longitude
-83.171822885836
12730 7 Mile Rd, Detroit, Michigan

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12730 7 Mile Rd
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