Detroit Wing Company Investment
For Sale
Contact for pricing
17535 E 9 Mile Rd, Eastpointe, MI 48021
NNN investment opportunity with a new 12-year lease.
Property Size3,420 SF
Price / SF$179.34
Days on Market463
Property Features for 17535 E 9 Mile Rd
General Information
Standard status
Active
Size
3,420 SF
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$46,000
Building Details
Tenancy
Single
Listing Agency:
GD Real Estate Services LLC
Listed By:
Gary David · License #MI 6502430398
Source:
Crexi
Added: May 6, 2025
Changed: Aug 8
Last Checked: Aug 9 at 12:48PM
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 GD Real Estate Services LLC
Investment Insights
Based on property information with market context.
This investment opportunity features a 3,420 square foot building with an NOI of $46,000 per year and a 7% cap rate. The property is occupied by Detroit Wing Company (DWC), a quick-service restaurant franchise known for its chicken wings and tenders with over 20 signature sauces. Founded in 2015, DWC is recognized for using fresh, all-natural ingredients. A new 12-year Absolute NNN lease was signed in November 2022, with a 10% rent increase scheduled for 2028. This original location holds historical significance and boasts a loyal customer base, solidifying its strong market presence.
Key Highlights
- Passive income stream from a 12‑year Absolute NNN lease signed in November 2022.
- Strong 7% cap rate offers an excellent return on investment.
- Established Detroit Wing Company (DWC) franchise with a proven track record.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,820
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$896,400
$896.4K
Cap Rate 7%
$640,286
$640.3K
Cap Rate 9%
$498,000
$498.0K
Market Conditions
NOI Build-Up for 3,420 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$67.7K $19.80/SF
− Vacancy
−$8.0K −$2.33/SF
EGI
$59.8K $17.47/SF
− OpEx
−$14.9K −$4.37/SF
NOI
$44.8K $13.11/SF
Area
Macomb County, MI
Vacancy
11.75%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$896,400
Cap Rate 7%
$640,286
Cap Rate 9%
$498,000
Alternative Uses
Best Use
Specialty Retail
$640.3K
$560.3K – $747.0K
NOI $44,820 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 48021, MI
34,244
Population
14,124
Households
2.4
Avg Household Size
37
Median Age
15%
College-Educated
89%
High-School Grad
5.1 sq mi
ZIP Area
6,715
Density / Sq Mi
$58,196
Median Household Income
$35,836
Median Earnings
$1,335
Median Rent
$129,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - NNN investment opportunity with a new 12-year lease.
Where is this conventional restaurant located?
The property is located at 17535 E 9 Mile Rd Eastpointe, MI.
What is the asking price?
The asking price for this property is $613,333.
What are key features of this property?
This property features: Passive income stream from a 12‑year Absolute NNN lease signed in November 2022.; Strong 7% cap rate offers an excellent return on investment.; Established Detroit Wing Company (DWC) franchise with a proven track record.
