19160 Greenfield RdDetroit, MI 48235

Property Details for 19160 Greenfield Rd

Year built

1998

Lot size

1.51 AC

Property size (Sq ft)

10,982 SF

Zone code

B3

Property type

Drug stores

APN

22050268.

APU

22050268

Description

This exceptional retail investment opportunity presents a 11,057 square foot Family Dollar store located at 19160 Greenfield Rd, Detroit, MI 48235, within the Detroit MSA. The property boasts a 10-year Net Net (NN) lease with six, five-year renewal options, providing significant long-term stability. The lease is corporately guaranteed by Dollar Tree, a credit-rated investment-grade tenant (BBB-), offering exceptional security. With an 8.00% cap rate and a current NOI of $82,000, this property offers a compelling return on investment. The building, constructed in 1998, enjoys 100% occupancy and benefits from a high-traffic location with over 16,000 vehicles per day passing by. The surrounding demographics are highly favorable, with approximately 383,488 residents within a 5-mile radius and an average household income of $66,699. This property is ideally situated to capitalize on the strong performance of Family Dollar, a leading discount retailer with over 16,000 locations nationwide. The asking price is $1,025,000. This is a rare opportunity to acquire a stable, high-performing retail asset with a strong tenant and significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $3,357,620

  6.5%

  $3,099,342

  7%

  $2,877,960

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,588,686

  Geo Method

  $2,588,686

• Alternative Use

  Use

  Valuation

  Residential

  $2,614,411

  Hospitality

  $2,394,786

  Educational

  $1,992,434

  Medical

  $2,060,957

  Retail

  $3,099,342

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4313

Longitude

-83.1993

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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