16401 Harper Ave Detroit, MI 48224-2618

This exceptional Detroit retail property offers a fee-simple investment opportunity in a high-traffic location on Harper Ave. The 9,954 square foot building, constructed in 2004 as a build-to-suit for Family Dollar, boasts a strong 10-year net lease with two, five-year renewal options, each including a 10% rent increase. The property benefits from a corporate guarantee and a current NOI of $109,203, resulting in an attractive 8% cap rate. Family Dollar, a subsidiary of Dollar Tree and a top performer (top 17% nationwide according to Placer.Ai), has operated successfully at this location for 20 years, demonstrating a significant commitment to the market. The property's strategic location on Hwy 94 sees over 134,688 vehicles per day, serving a substantial population base: approximately 150,334 residents within a 3-mile radius and 292,452 within a 5-mile radius. This single-story building presents a secure, long-term investment with significant upside potential. The asking price is $1,365,037. The lease expires June 30, 2034. The tenant possesses an investment-grade credit rating (S&P BBB-).