Freestanding Auto Parts Retail
For Sale
Contact for pricing
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.
Property Size9,920 SF
Price / SF$212.10
Days on Market97
Property Features for 8417 West Vernor Highway
General Information
Standard status
Active
Size
9,920 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$144,140
Additional Details
Cap Rate
6.85%
Building Details
Year Built
2003
Buildings
1
Tenancy
Single
Listing Agency:
CBRE
Listed By:
David Hesano · License #MI 6501300653
Source:
Crexi
Added: Jul 8
Changed: Sep 14
Last Checked: Oct 11 at 4:07AM
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.
Constructed in 2003, this freestanding auto parts retail building is currently leased to O'Reilly Auto Parts. The property is described as having over four (4) years remaining on its current lease term, with rental rate increases scheduled in each of the three remaining option periods. The lease structure is double-net (NN), with the landlord’s responsibilities limited to the roof, structure, outer walls, and utility service lines.
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.
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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,184
Cap Rate
5.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,443,680
$2.4M
Cap Rate 7%
$1,745,486
$1.7M
Cap Rate 9%
$1,357,600
$1.4M
Market Conditions
NOI Build-Up for 9,920 SF
Gross rent
$184.5K $18.60/SF
− Vacancy
−$10.0K −$1.00/SF
EGI
$174.5K $17.60/SF
− OpEx
−$52.4K −$5.28/SF
NOI
$122.2K $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%
$2,443,680
Cap Rate 7%
$1,745,486
Cap Rate 9%
$1,357,600
Alternative Uses
Best Use
Retail
$1.75M
$1.53M – $2.04M
NOI $122,184 @ 7.0% cap · market cap 5.81%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.19M
$1.91M – $2.55M
NOI $153,187 @ 7.0% cap · market cap 7.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
409
Businesses Nearby
Explore this area
Business Placement
Demographics for 48209, MI
27,096
Population
11,020
Households
2.5
Avg Household Size
30
Median Age
10%
College-Educated
61%
High-School Grad
6.8 sq mi
ZIP Area
3,985
Density / Sq Mi
$42,152
Median Household Income
$30,091
Median Earnings
$843
Median Rent
$82,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Detroit, MI
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Frequently Asked Questions
What type of property is this?
Retail space - Freestanding 2003-built auto parts store leased to O'Reilly Auto Parts with 4+ years remaining on the term.
Where is this retail space located?
The property is located at 8417 West Vernor Highway Detroit, MI.
What is the asking price?
The asking price for this property is $2,104,000.
What are key features of this property?
This property features: 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
