18303 Joy Rd Detroit, MI 48228-3128

Property Details for 18303 Joy Rd

Year built

1973

Lot size

0.63 lot acres

Property size

4,079 SF

Zone code

B4

Property type

Commercial real estate

APN

22002339-51

APU

2200233951

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, absolute NNN leased KFC restaurant in Detroit, Michigan. The property boasts a 2,150 square foot building constructed in 2021, situated on a 0.629-acre lot. The property features a double drive-thru, enhancing operational efficiency and customer convenience. The current lease, with a prominent franchisee, KBP Foods (the largest KFC franchisee in the US operating over 840 locations), has 19+ years remaining, providing significant long-term stability. The lease includes 7% rental increases every five years, offering inflation protection. This Class B property enjoys a 6.00% cap rate and a 100% occupancy rate, making it an attractive investment. Its prime location on Joy Road, west of the Southfield Freeway, benefits from high visibility and accessibility. The area is densely populated, with proximity to major retailers (including Walmart, Target, Costco, and Home Depot) and educational institutions (University of Michigan-Dearborn and Henry Ford College), ensuring a consistent customer base. The asking price is $2,416,667, translating to $1,124.03 per square foot. This is a rare opportunity to acquire a well-established, high-performing KFC restaurant with a secure, long-term lease.

Location Insight

City

Detroit

County

Wayne

State

Michigan

Longitude

-83.2195

Latitude

42.3575

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments