15424 Southfield Rd Allen Park, MI 48101-2647

Property Details for 15424 Southfield Rd

Year built

1994

Lot size

0.18 lot acres

Property size

3,340 SF

Zone code

C 5

Property type

Commercial real estate

APN

30 011 04 0104 000

APU

30011040104000

Description

This exceptional investment opportunity presents a 3,340 square foot, net-leased storefront occupied by Verizon Wireless (Cellular Sales of Knoxville, Inc.), a leading national retailer with over 800 locations. Located at 15424 Southfield Rd, Allen Park, MI 48101, this property boasts a prime location on a heavily trafficked retail thoroughfare in a densely populated suburban Detroit area. The 2024 renovated building sits on a 0.29-acre lot and benefits from excellent visibility and signage. The 7-year lease, commencing December 1, 2024, and expiring December 1, 2031, offers minimal landlord responsibilities and built-in rental increases during option periods. The property features a new roof, HVAC system, and parking lot. The asking price is $1,653,847, representing a 6.50% cap rate and a NOI of $107,500. Surrounding national retailers include CVS, AutoZone, Kroger, and many more. The strong demographics, with a population of 133,000 within a 3-mile radius and an average household income of $86,000 within 1 mile, further enhance the investment potential. This property offers a secure, high-yield investment with a blue-chip tenant in a premier location. The property was built in 1994 and underwent renovations in 2024. The location is easily accessible from Southfield Road and Allen Road, with approximately 100,000 combined vehicles per day. The property's proximity to Ford Motor Company facilities and Roush Industries adds to its strategic value.