4120 2Nd Ave Detroit, MI 48201
- Retail properties
- 9,250 SF
- 0.35 lot acres
Current Use by Public Records
- Mad Nice / Italian Restaurant
Property Details for 4120 2Nd Ave
- Lot size
- 0.35 lot acres
- Property size
- 9,250 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a fee-simple, Class A, 9,250 square foot restaurant in Detroit's vibrant Midtown. Currently operating at 100% occupancy under a Net Lease (NNN) agreement with eight years remaining, plus four five-year options, this property offers a compelling 6.50% cap rate and a substantial $180,000 annual net operating income (NOI). The asking price is $2,769,000, translating to $299 per square foot. The tenant, responsible for all building maintenance, including CAM, taxes, and insurance, recently completed a $1.5 million renovation in 2022. This near-passive investment benefits from a below-market rental rate and is strategically located near key attractions including Shinola's flagship store, Wayne State University, Whole Foods Market, and the Detroit Medical Center. The property's 0.35-acre lot is also within close proximity to several significant ongoing and planned developments, including a $14 million mixed-use apartment complex (projected completion 2025), further enhancing its long-term value and potential for appreciation. The property's prime location is also just one mile from major entertainment venues such as Ford Field, Comerica Park, the Fox Theatre, Motor City Casino, and MGM Grand Detroit. This is a rare opportunity to acquire a stable, high-performing restaurant investment in a rapidly developing area of Detroit. The property features a single tenancy and is situated at 4120 2nd Ave, Detroit, MI 48201. The APN is 02002364.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.065
- Latitude
- 42.3492
