20919 8 Mile RdDetroit, MI 48219

Property Details for 20919 8 Mile Rd

Year built

2000

Lot size

0.66 AC

Property size (Sq ft)

3,829 SF

Zone code

B4

Property type

Retail properties

Property subtype

Drive through restaurants

APN

22019027.

APU

22019027

Description

This exceptional investment opportunity presents a freestanding 3,829 square foot Popeyes restaurant situated on a 0.66-acre lot in Detroit, Michigan. The property boasts a prime location on Eight Mile Road, a heavily trafficked retail corridor with over 54,000 vehicles per day, and enjoys close proximity to Michigan Highway 10. The building, constructed in 2000 and renovated in 2025, is currently 100% occupied under a brand new 20-year triple-net (NNN) lease with the largest Popeyes franchisee in the system. This hands-off investment offers significant upside potential with 10% rent increases every five years, and four additional five-year renewal options, extending the potential lease term to 40 years. The franchisee, a major player in the QSR industry with a substantial portfolio and significant expansion plans, guarantees a stable and reliable income stream. The property's strong financial performance is reflected in a 5.85% cap rate and a net operating income (NOI) of $167,000. The surrounding area is undergoing revitalization, further enhancing the long-term value of this exceptional investment. This is a rare opportunity to acquire a high-performing, low-maintenance asset in a rapidly growing market. The Detroit metro area, the most populous city in Michigan, offers a diverse and thriving economy, providing a strong foundation for continued success.

• CAP approach

  CAP return

  Valuation

  6%

  $963,554

  6.5%

  $889,434

  7%

  $825,903

• Comparable approach

  Method

  Valuation

  Relative Method

  $902,575

  Geo Method

  $902,575

• Alternative Use

  Use

  Valuation

  Residential

  $750,271

  Hospitality

  $687,244

  Educational

  $571,779

  Medical

  $591,443

  Retail

  $889,434

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4432

Longitude

-83.2498

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].