Corner Retail Investment
For Sale
$7,800,000
1015 N Irish Road & 1041-1055 N Irish Road, Davison, MI 48423
Fully occupied NNN retail property with ample parking and long-term leases in place.
Property Size23,510 SF
Days on Market142
Property Features for 1015 N Irish Road & 1041-1055 N Irish Road
General Information
Standard status
Active
Size
23,510 SF
Property subtype
Retail
Building Details
Building Size
23,510 SF
Year Built
2017
Listing Agency:
Friedman Integrated Real Estate - Corporate
Listed By:
Josh Ward
(248) 705-6023
Source:
Friedmanrealestate
Added: Jun 2
Changed: Oct 2
Last Checked: Oct 20 at 5:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Friedman Integrated Real Estate - Corporate
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Investment Insights
Based on property information with market context.
This turnkey corner retail investment is fully occupied and well maintained, with leases in place on an NNN basis. The property includes ample parking and is described as having a long lease term, with lease increases included in the structure.
The site is positioned directly off I-69 and is surrounded by new development, supporting ongoing tenant demand. Additional curb appeal is noted for the corner configuration.
The offering includes more than 8 acres of land and offers convenient vehicular access for customers and tenants. All leases are structured as NNN and include increases, aligning the income stream with ongoing lease growth.
The site is positioned directly off I-69 and is surrounded by new development, supporting ongoing tenant demand. Additional curb appeal is noted for the corner configuration.
The offering includes more than 8 acres of land and offers convenient vehicular access for customers and tenants. All leases are structured as NNN and include increases, aligning the income stream with ongoing lease growth.
Key Highlights
- Built in 2017
- Fully occupied NNN retail property with long‑term leases in place
- NNN leases with increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$244,055
Cap Rate
3.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,881,100
$4.9M
Cap Rate 7%
$3,486,500
$3.5M
Cap Rate 9%
$2,711,722
$2.7M
Market Conditions
NOI Build-Up for 23,510 SF
Gross rent
$363.9K $15.48/SF
− Vacancy
−$15.3K −$0.65/SF
EGI
$348.6K $14.83/SF
− OpEx
−$104.6K −$4.45/SF
NOI
$244.1K $10.38/SF
Area
Genesee County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,881,100
Cap Rate 7%
$3,486,500
Cap Rate 9%
$2,711,722
Alternative Uses
Best Use
Retail
$3.49M
$3.05M – $4.07M
NOI $244,055 @ 7.0% cap · market cap 3.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.95M
$4.33M – $5.77M
NOI $346,299 @ 7.0% cap · market cap 4.44%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
156
Businesses Nearby
Explore this area
Business Placement
Demographics for 48423, MI
33,801
Population
15,248
Households
2.2
Avg Household Size
41
Median Age
25%
College-Educated
93%
High-School Grad
64.5 sq mi
ZIP Area
524
Density / Sq Mi
$64,096
Median Household Income
$40,463
Median Earnings
$953
Median Rent
$209,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Fully occupied NNN retail property with ample parking and long-term leases in place.
Where is this retail space located?
The property is located at 1015 N Irish Road & 1041-1055 N Irish Road Davison, MI.
What is the asking price?
The asking price for this property is $7,800,000.
What are key features of this property?
This property features: Built in 2017; Fully occupied NNN retail property with long‑term leases in place; NNN leases with increases
