8417 West Vernor Highway Detroit, MI 48209
Freestanding 2003-built auto parts store leased to O'Reilly Auto Parts with 4+ years remaining on the term.
- Added:
- Jul 8, 2026
- Days on Market:
- 4
- Last Refresh:
- Jul 11 at 2:11 am
Property Features for 8417 West Vernor Highway
General Information
- Standard status
- Active
- Size
- 9,920 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2003
Listing office CBRE
Listing date Jul 8, 2026
Source Crexi
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 CBRE
Investment Insights
Based on property information with market context.
This single-tenant offering is located at 8417 West Vernor Highway in Detroit, MI, within a densely populated trade area, according to Placer.ai. The remarks also state the unit ranks in the top quartile nationally and within the top 84th percentile within Michigan.
The seller is offering the property for sale as a single-tenant investment with O'Reilly continuing operations at this freestanding location.
Key Highlights
- Freestanding auto parts store built in 2003, currently leased to O'Reilly Auto Parts
- Lease has 4+ years remaining, with rental rate increases in each of the three remaining option periods
- Double‑net (NN) lease: landlord responsibilities limited to roof, structure, outer walls, and utility service lines
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 | $184.5k | $18.60 |
| − Vacancy | −$10.0k | −$1.00 |
| EGI | $174.5k | $17.60 |
| − OpEx | −$52.4k | −$5.28 |
| NOI | $122.2k | $12.32 |
