15050 Southfield RdAllen Park, MI 48101

Property Details for 15050 Southfield Rd

Year built

2003

Lot size

1.25 AC

Property size (Sq ft)

4,488 SF

Zone code

C 4

Property type

Drive through restaurants

APN

30 011 02 1435 002

APU

30011021435002

Description

Exceptional investment opportunity: A 4,488 sq ft Krispy Kreme in Allen Park, MI, presents a compelling net lease offering. This fee-simple ground lease boasts a 5.25% cap rate and a strong NOI of $119,381. The corporate-guaranteed lease with Krispy Kreme Doughnut Corporation extends to October 31, 2028, with two 5-year options featuring CPI rent bumps. Situated on a 1.1-acre lot at 15050 Southfield Rd (48101), this drive-thru location benefits from high visibility and traffic counts exceeding 61,700 vehicles daily. The property enjoys excellent access to major highways (I-75, I-94, M-85) and is surrounded by a dense retail environment including Kroger, Target, and Home Depot, along with significant residential populations. The lease commenced November 1, 2003, and the ground lease expires concurrently with the building lease. This management-free investment provides a passive income stream with built-in growth potential, supported by a renowned brand and a thriving location within the Detroit MSA. The property's strong performance is further evidenced by its ranking in the top 85th percentile of Michigan bakeries and dessert shops for annual visits. This presents a rare opportunity to acquire a well-established, high-performing asset with significant long-term value.

• CAP approach

  CAP return

  Valuation

  6%

  $1,039,920

  6.5%

  $959,924

  7%

  $891,358

• Comparable approach

  Method

  Valuation

  Relative Method

  $436,600

  Geo Method

  $436,600

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $1,840,700

  Mixed-Use / Specialty

  $969,128

  Hospitality / Lodging

  $727,456

  Office

  $976,520

  Institutional / Educational

  $1,012,010

  Residential Income

  $1,184,060

  Multifamily

  $1,350,100

  Automotive / Energy

  $867,441

  Parking / Income-Based Land

  $286,870

  Restaurant / Food Service

  $530,996

  Healthcare / Senior Housing

  $980,875

Location Insight

City

Allen Park

County

Wayne

State

Michigan

Latitude

42.258

Longitude

-83.2012

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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