Grocery Store With Office
For Sale
$1,200,000
7052 Greenfield Rd, Dearborn, MI 48126
Corner retail property with an operating grocery store, supplemental occupants, and upstairs rooms suited to office use.
Property Size4,239 SF
Days on Market50
Property Features for 7052 Greenfield Rd
General Information
Standard status
Active
Size
4,239 SF
Property subtype
Commercial
Site & Location
Neighborhood
Fordson West
Corner Location
Yes
Taxes and HOA fees
Annual Taxes
$9,611
Building Details
Building Size
4,239 SF
Year Built
1926
Tenancy
Multi
Listing Agency:
Premier One Group Inc
Listed By:
Khalil Hachem · License #6501389582
(313) 819-0101
Source:
Elliman
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 28 at 9:18AM
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 Premier One Group Inc
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Investment Insights
Based on property information with market context.
This grocery and convenience store property occupies a corner at Greenfield Road and Warren Avenue in Dearborn. The building currently operates as a grocery store and includes three rooms on the upper level that can serve as office space. A clothing retailer and watch repair business occupy portions of the building under month-to-month arrangements. The property also benefits from a newer roof and newer AC unit.
A section of the parking lot is leased for vehicle storage serving a nearby mechanic shop and dance studio. The property is located at 7052 Greenfield Rd and was built in 1926. WalkScore is 82, BikeScore is 50, and TransitScore is 47.
A section of the parking lot is leased for vehicle storage serving a nearby mechanic shop and dance studio. The property is located at 7052 Greenfield Rd and was built in 1926. WalkScore is 82, BikeScore is 50, and TransitScore is 47.
Key Highlights
- Corner at Greenfield Road and Warren Avenue in Dearborn
- Operating grocery store with three upstairs rooms for office use
- Newer roof and newer AC unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,990
Cap Rate
4.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,800
$1.2M
Cap Rate 7%
$828,429
$828.4K
Cap Rate 9%
$644,333
$644.3K
Market Conditions
NOI Build-Up for 4,239 SF
Gross rent
$81.4K $19.20/SF
− Vacancy
−$4.1K −$0.96/SF
EGI
$77.3K $18.24/SF
− OpEx
−$19.3K −$4.56/SF
NOI
$58.0K $13.68/SF
Area
Dearborn, MI
Vacancy
5.00%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,159,800
Cap Rate 7%
$828,429
Cap Rate 9%
$644,333
Alternative Uses
Best Use
Specialty Retail
$828.4K
$724.9K – $966.5K
NOI $57,990 @ 7.0% cap · market cap 4.83%
Second Best
Retail
$745.9K
$652.6K – $870.2K
NOI $52,211 @ 7.0% cap · market cap 4.35%
Theoretical Best
Office A
$935.1K
$818.3K – $1.09M
NOI $65,460 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
770
Businesses Nearby
47k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 67%
Dining 30%
Electronics 4%
Exxon
Shops & Services
16,575 visits/mo
0.1 miles
Tim Hortons
Dining
12,664 visits/mo
0.1 miles
Shell
Shops & Services
8,181 visits/mo
0.1 miles
Mobil
Shops & Services
6,328 visits/mo
0.1 miles
AT&T
Electronics
1,686 visits/mo
0.1 miles
Demographics for 48126, MI
55,863
Population
16,919
Households
3.3
Avg Household Size
28
Median Age
24%
College-Educated
74%
High-School Grad
8.4 sq mi
ZIP Area
6,650
Density / Sq Mi
$42,353
Median Household Income
$27,724
Median Earnings
$1,222
Median Rent
$200,600
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Sumer Supermarket — 6000 Chase Rd, Dearborn, MI 48126
- ALBEQAA SUPER MARKET — 6000 Chase Rd, Dearborn, MI 48126
- AL FALAH SUPERMARKET — 6735 Greenfield Rd, Detroit, MI 48228
- Papaya Wholesale (Saad Trading) — 14311 Warren Ave, Dearborn, MI 48126
- Fair Line Food Center — 16520 W Warren Ave, Detroit, MI 48228, United States
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Corner retail property with an operating grocery store, supplemental occupants, and upstairs rooms suited to office use.
Where is this grocery and convenience store located?
The property is located at 7052 Greenfield Rd Dearborn, MI.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Corner at Greenfield Road and Warren Avenue in Dearborn; Operating grocery store with three upstairs rooms for office use; Newer roof and newer AC unit
