Retail Supercenter Absolute NNN
33500 Seven Mile Road Livonia, MI 48152
33500 Seven Mile Road, Livonia, MI, 48152
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For Sale
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Meijer is under a 20-year absolute NNN ground lease with projected rent commencement on August 19, 2026.
Property Size75,466 SF
Price / SF$178.89
Days on Market78
Property Features for 33500 Seven Mile Road
General Information
- Standard status
- Active
- Size
- 75,466 SF
- Property subtype
- Retail
Listing agency
Fortis Net Lease
(248) 254-3406
Listed by
Doug Passon · License #MI 6502361821
Source
Crexi
Added: May 7 Updated: Jul 23 at 12:25AM Checked: Jul 23 at 12:25AM
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 Fortis Net Lease
Investment Insights
Based on property information with market context.
Fortis Net Lease is pleased to present the opportunity to acquire a 20-year absolute NNN ground lease with Meijer. The ground lease is structured as “true zero landlord responsibilities,” meaning landlord obligations are limited throughout the initial 20-year term. The property is projected to commence rent on August 19, 2026.
The investment is a 75,466 SF Meijer supercenter located at 33500 Seven Mile Road in Livonia, Michigan, within a suburban Detroit retail corridor described as dense and affluent. The site is noted as having direct access to major highways, supporting a high-volume retail environment.
Within a 5-mile radius, the population is described as exceeding 199,000 residents, with average household income of more than $106,000. The surrounding area is also described as generating over $2.8 billion in annual consumer spending. The offering is presented as backed by Meijer Inc. and includes a starting NOI of $675,000.
The investment is a 75,466 SF Meijer supercenter located at 33500 Seven Mile Road in Livonia, Michigan, within a suburban Detroit retail corridor described as dense and affluent. The site is noted as having direct access to major highways, supporting a high-volume retail environment.
Within a 5-mile radius, the population is described as exceeding 199,000 residents, with average household income of more than $106,000. The surrounding area is also described as generating over $2.8 billion in annual consumer spending. The offering is presented as backed by Meijer Inc. and includes a starting NOI of $675,000.
Key Highlights
- 20‑year absolute NNN ground lease with Meijer, projected to commence rent on August 19, 2026
- 75,466 SF Meijer supercenter ground lease at 33500 Seven Mile Road in Livonia, Michigan
- Absolute NNN structure provides zero landlord responsibilities during the initial 20‑year term
Local 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 | $1.09M | $14.40 |
| − Vacancy | −$65.2k | −$0.86 |
| EGI | $1.02M | $13.54 |
| − OpEx | −$306.5k | −$4.06 |
| NOI | $715.1k | $9.48 |
75,466 SF · lease $14.40/SF/yr · vacancy 6.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$10.22M
$8.94M – $11.92M
NOI $715,055 @ 7.0% cap · market cap 5.30%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$13.97M
$12.23M – $16.30M
NOI $978,039 @ 7.0% cap · market cap 7.24%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
What type of property is this?
NNN property - Meijer is under a 20-year absolute NNN ground lease with projected rent commencement on August 19, 2026.
Where is this nnn property located?
The property is located at 33500 Seven Mile Road Livonia, MI.
What is the asking price?
The asking price for this property is $13,500,000.
What are key features of this property?
This property features: 20‑year absolute NNN ground lease with Meijer, projected to commence rent on August 19, 2026; 75,466 SF Meijer supercenter ground lease at 33500 Seven Mile Road in Livonia, Michigan; Absolute NNN structure provides zero landlord responsibilities during the initial 20‑year term
