19615 Plymouth RdDetroit, MI 48223

Property Details for 19615 Plymouth Rd

Year built

1973

Lot size

0.24 AC

Property size (Sq ft)

1,960 SF

Zone code

B4

Property type

Drive through restaurants

APN

22005390-4

APU

220053904

Description

This exceptional investment opportunity presents a thriving Subway franchise located at 19615 Plymouth Rd, Detroit, MI 48223. The property, built in 1973, encompasses 1,828 square feet on a 0.24-acre lot and features a single-story building. Currently operating under a Net Net (NN) lease with a remaining term of five years, this Subway location boasts 100% occupancy and a strong financial performance. The asking price is $250,000, representing a price per square foot of $136.76 and a cap rate of 6.86%. The property generates a Net Operating Income (NOI) of $17,150 annually. This Subway has a long operational history at this location, commencing in 2002, and recently renewed its lease. The location benefits from a dense population, with an estimated 390,187 people residing within a five-mile radius. This established, high-performing Subway franchise offers a compelling investment opportunity with significant potential for continued growth and profitability. The property is a single-tenant retail space within the QSR/Fast Food subtype.

• CAP approach

  CAP return

  Valuation

  6%

  $493,227

  6.5%

  $455,286

  7%

  $422,766

• Comparable approach

  Method

  Valuation

  Relative Method

  $462,013

  Geo Method

  $462,013

• Alternative Use

  Use

  Valuation

  Residential

  $384,051

  Hospitality

  $351,789

  Educational

  $292,684

  Medical

  $302,750

  Retail

  $455,286

Location Insight

City

Detroit

County

Wayne

State

Michigan

Latitude

42.3716

Longitude

-83.2341

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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