2701 Jefferson Ave Detroit, MI 48207

Property Details for 2701 Jefferson Ave

Year built

1994

Lot size

0.80 lot acres

Property size

4,808 SF

Zone code

B4

Property type

Turn key restaurants

APN

11000099-101

APU

11000099101

Description

This exceptional investment opportunity presents a 4,807 square foot, single-tenant, net-leased restaurant property located at 2701 E Jefferson Ave, Detroit, MI 48207. The property, built in 1915, sits on a 0.8-acre lot and boasts 66 parking spaces. Currently operating as a Detroit House of Pancakes franchise, the property enjoys 100% occupancy under a 10-year lease (commencing September 1, 2020, and expiring August 31, 2030), with six years remaining. The lease includes two five-year renewal options, with a 10% rent increase in year six and each option period. The property's Net Operating Income (NOI) is $120,000, resulting in a compelling 6.86% capitalization rate. The asking price is $1,750,000. The property is zoned B4 and benefits from its prime location in the Rivertown Warehouse District on Detroit's East Jefferson Corridor, a densely populated area with over 69,000 residents within a three-mile radius. Its proximity to major venues like Comerica Park, Little Caesars Arena, Ford Field, and GM Headquarters adds significant value. This is a rare opportunity to acquire a stable, high-performing asset with a strong franchise tenant and significant upside potential. The lease is a triple-net (NNN) lease, meaning the tenant is responsible for all operating expenses, providing the landlord with minimal responsibilities. The lease includes a personal guarantee from the franchisee.

Location Insight

City

Detroit

County

Wayne

State

Michigan

Longitude

-83.0214

Latitude

42.3393

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments