16401 Harper AveDetroit, MI 48224

Property Details for 16401 Harper Ave

Year built

1960

Lot size

0.41 AC

Property size (Sq ft)

9,408 SF

Zone code

B4

Property type

Retail space

APN

21004568-75

APU

2100456875

Description

This exceptional Detroit retail property offers a fee-simple investment opportunity in a high-traffic location on Harper Ave. The 9,954 square foot building, constructed in 2004 as a build-to-suit for Family Dollar, boasts a strong 10-year net lease with two, five-year renewal options, each including a 10% rent increase. The property benefits from a corporate guarantee and a current NOI of $109,203, resulting in an attractive 8% cap rate. Family Dollar, a subsidiary of Dollar Tree and a top performer (top 17% nationwide according to Placer.Ai), has operated successfully at this location for 20 years, demonstrating a significant commitment to the market. The property's strategic location on Hwy 94 sees over 134,688 vehicles per day, serving a substantial population base: approximately 150,334 residents within a 3-mile radius and 292,452 within a 5-mile radius. This single-story building presents a secure, long-term investment with significant upside potential. The asking price is $1,365,037. The lease expires June 30, 2034. The tenant possesses an investment-grade credit rating (S&P BBB-).

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.4121

Longitude

-82.9434

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].