Freestanding Net-Leased Retail
22200 Grand River Ave Detroit, MI 48219
For Sale
$1,565,000
Freestanding single-tenant retail property built in 2012 and currently leased on a triple-net basis through September 2027.
Property Size9,476 SF
Price / SF$165.15
Days on Market79
Property Features for 22200 Grand River Ave
General Information
- Standard status
- Active
- Size
- 9,476 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2012
Listing Agency:
Forward Commercial Group
(248) 662-5066
Listed By:
Emil Cherkasov · License #6502392741
(248) 662-5066
Source:
Elliman
Added: May 10
Changed: Jul 20
Last Checked: Jul 26 at 8:24AM
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 Forward Commercial Group
Investment Insights
Based on property information with market context.
This is a freestanding, single-tenant net-leased retail property totaling 9,476 SF, constructed in 2012. The building is fully leased to Family Dollar under a triple-net (NNN) structure. The current lease term extends through September 2027, and the tenant is operating during its first renewal period. The lease also includes four additional 5-year renewal options.
The property is located in the northwest area of Detroit near the borders of Southfield and Redford in Wayne County, positioned within an established retail corridor.
For buyers seeking in-place income, the lease provides a defined near-term maturity date while also offering multiple renewal opportunities.
The property is located in the northwest area of Detroit near the borders of Southfield and Redford in Wayne County, positioned within an established retail corridor.
For buyers seeking in-place income, the lease provides a defined near-term maturity date while also offering multiple renewal opportunities.
Key Highlights
- Freestanding 9,476 SF single‑tenant net‑leased retail property built in 2012
- Fully leased to Family Dollar under a triple‑net (NNN) lease
- Lease term remaining through September 2027
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $176.3k | $18.60 |
| − Vacancy | −$9.5k | −$1.00 |
| EGI | $166.7k | $17.60 |
| − OpEx | −$50.0k | −$5.28 |
| NOI | $116.7k | $12.32 |
9,476 SF · lease $18.60/SF/yr · vacancy 5.40% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.67M
$1.46M – $1.95M
NOI $116,715 @ 7.0% cap · market cap 7.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.95M
$1.70M – $2.27M
NOI $136,243 @ 7.0% cap · market cap 8.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Family Dollar
Discount Store
FAQs
What type of property is this?
NNN property - Freestanding single-tenant retail property built in 2012 and currently leased on a triple-net basis through September 2027.
Where is this nnn property located?
The property is located at 22200 Grand River Ave Detroit, MI.
What is the asking price?
The asking price for this property is $1,565,000.
What are key features of this property?
This property features: Freestanding 9,476 SF single‑tenant net‑leased retail property built in 2012; Fully leased to Family Dollar under a triple‑net (NNN) lease; Lease term remaining through September 2027
