17700 Grand River AveDetroit, MI 48227

Property Details for 17700 Grand River Ave

Year built

1994

Lot size

0.93 AC

Property size (Sq ft)

3,636 SF

Zone code

B4

Property type

Drive through restaurants

APN

22008171-4

APU

220081714

Description

This exceptional investment opportunity presents a 3,636 square foot, 100% occupied QSR property located at 17700 Grand River Ave, Detroit, MI 48227. The property, built in 1994 and renovated in 2025, sits on a 0.93-acre lot and boasts a strong 5.85% cap rate with a current NOI of $128,000. The asking price is $2,188,034. The property is leased to the largest Popeyes franchisee under a brand new 20-year Triple Net (NNN) lease, eliminating all landlord responsibilities. The lease includes four 5-year renewal options, potentially extending the lease term to 40 years. Rent increases of 10% every 5 years are built into the lease, including option periods. The property is situated in a revitalizing area of Detroit, within the 4.4 million-person Detroit MSA, and benefits from proximity to numerous national retailers, including McDonald's, CVS, and Rite Aid. This sale-leaseback offers a secure, high-yield investment with significant long-term growth potential. The property's strong tenant, robust expansion plans, and attractive lease terms make it an ideal addition to any portfolio.

• CAP approach

  CAP return

  Valuation

  6%

  $1,111,665

  6.5%

  $1,026,153

  7%

  $952,856

• Comparable approach

  Method

  Valuation

  Relative Method

  $857,081

  Geo Method

  $857,081

• Alternative Use

  Use

  Valuation

  Residential

  $865,598

  Hospitality

  $792,883

  Educational

  $659,670

  Medical

  $682,357

  Retail

  $1,026,153

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4005

Longitude

-83.2168

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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