Licensed Dispensary with
For Sale
$1,499,000
5540 E 8 Mile Road, Detroit, MI 48091
A licensed operation includes a secured reception area, customer drive-through access, and dedicated storage.
Property Size3,800 SF
Price / SF$394.47
Days on Market840
Property Features for 5540 E 8 Mile Road
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$1,315
Building Details
Building Size
3,800 SF
Listing Agency:
RE/MAX Leading Edge
Listed By:
Sam Jaafar · License #6501379437
(313) 995-2600
Source:
Desertdouglas
Added: Jul 12, 2024
Changed: Oct 27
Last Checked: Oct 27 at 4:17AM
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 RE/MAX Leading Edge
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The dispensary occupies a building on an approximately one-acre lot. Interior features include ceramic marble flooring, restrooms, a large storage area, and a secured reception area with safety measures. Drive-through service is available, and the property has a concrete parking lot.
Key Highlights
- Licensed dispensary operation
- Drive‑through service available
- Approximately one‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,804
Cap Rate
3.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$936,080
$936.1K
Cap Rate 7%
$668,629
$668.6K
Cap Rate 9%
$520,044
$520.0K
Market Conditions
NOI Build-Up for 3,800 SF
Gross rent
$70.7K $18.60/SF
− Vacancy
−$3.8K −$1.00/SF
EGI
$66.9K $17.60/SF
− OpEx
−$20.1K −$5.28/SF
NOI
$46.8K $12.32/SF
Area
Detroit, MI
Vacancy
5.40%
Lease Rate
$18.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$936,080
Cap Rate 7%
$668,629
Cap Rate 9%
$520,044
Alternative Uses
Best Use
Retail
$668.6K
$585.1K – $780.1K
NOI $46,804 @ 7.0% cap · market cap 3.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$838.3K
$733.5K – $978.0K
NOI $58,681 @ 7.0% cap · market cap 3.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
531
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 46%
Marathon
Shops & Services
4,226 visits/mo
0.4 miles
Dairy Queen
Dining
3,571 visits/mo
0.4 miles
Tubby's
Dining
1,413 visits/mo
0.5 miles
Demographics for 48091, MI
32,267
Population
12,919
Households
2.5
Avg Household Size
37
Median Age
17%
College-Educated
82%
High-School Grad
7.9 sq mi
ZIP Area
4,084
Density / Sq Mi
$53,400
Median Household Income
$31,877
Median Earnings
$1,231
Median Rent
$138,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Detroit, MI
Frequently Asked Questions
What type of property is this?
Cannabis property - A licensed operation includes a secured reception area, customer drive-through access, and dedicated storage.
Where is this cannabis property located?
The property is located at 5540 E 8 Mile Road Detroit, MI.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Licensed dispensary operation; Drive‑through service available; Approximately one‑acre lot
