12207 Grand River AveDetroit, MI 48204

Property Details for 12207 Grand River Ave

Year built

2008

Lot size

0.75 AC

Property size (Sq ft)

8,489 SF

Zone code

B4

Property type

Outlet malls

APN

18006828-35

APU

1800682835

Description

This exceptional investment opportunity presents a stabilized, single-tenant Family Dollar store located at 12207 Grand River Ave, Detroit, MI 48204. The 9,180 square foot building sits on a 0.75-acre lot and boasts a strong 9.00% cap rate, generating a net operating income (NOI) of $106,920. The property features a NN+ lease with a credit-rated tenant, ensuring consistent cash flow. The lease commenced on December 5, 2005, and has a remaining term of approximately 2.1 years, with five 5-year renewal options, each including a 10% rent increase. Built in 2005, this property benefits from its location at the hard corner of Grand River Avenue and Birwood Avenue, offering multiple points of access. The asking price is $1,190,000, translating to a price per square foot of $140. The property's strong demographics, situated in a densely populated area just 15 minutes from downtown Detroit, further enhance its investment appeal. This is a rare opportunity to acquire a well-performing, low-risk retail investment in a prime Detroit location. The property is 100% occupied. Wayne County APN: 18006828-35.

• CAP approach

  CAP return

  Valuation

  6%

  $2,595,414

  6.5%

  $2,395,767

  7%

  $2,224,641

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,001,034

  Geo Method

  $2,001,034

• Alternative Use

  Use

  Valuation

  Residential

  $2,020,919

  Hospitality

  $1,851,151

  Educational

  $1,540,136

  Medical

  $1,593,104

  Retail

  $2,395,767

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3781

Longitude

-83.1629

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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