18592 9th Mile Rd Eastpointe, MI 48021-1951
- Drive through restaurants
- 2,428 SF
- 0.74 lot acres
Current Use by Public Records
- Popeyes Louisiana Kitchen / Fast Food Restaurant / Restaurant
Property Details for 18592 9th Mile Rd
- Year built
- 2014
- Lot size
- 0.74 lot acres
- Property size
- 2,428 SF
- Zone code
- B-3
- Property type
- Drive through restaurants
- APN
- 02-14-32-230-018
- APU
- 21432230018
Description
This exceptional investment opportunity presents a 2,428 square foot Popeyes restaurant located at 18592 E 9 Mile Rd, Eastpointe, MI 48021. Built in 2014 on a 0.74-acre lot, this property boasts a 20-year triple-net (NNN) lease with a highly reputable tenant, the largest Popeyes franchisee in the system. The lease includes a 5.85% cap rate and a substantial net operating income (NOI) of $189,000. Rent increases are structured at 10% every five years, including option periods, providing significant long-term growth potential. Four 5-year renewal options extend the potential lease term to 40 years. The property enjoys exceptional visibility and accessibility, situated along E 9 Mile Road, a high-traffic thoroughfare with over 52,000 cars daily, and in close proximity to Interstate 94 (over 130,000 cars daily). This location benefits from its position within the Detroit Metro area, a major economic hub. The asking price is $3,230,769, representing a compelling investment with minimal landlord responsibilities and strong tenant guarantees. The property is 100% occupied. This is a rare opportunity to acquire a secure, high-performing asset with substantial long-term income potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,820,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,495,000
- 6.5%
- $2,525,000
- 7%
- $2,540,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,375,000
- Geo Method
- $2,050,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,010,000
- Retail
- $2,555,000
- Mixed-Use
- $2,330,000
- Hospitality
- $2,675,000
- Educational
- $2,195,000
- Residential Income
- $2,225,000
- Energy
- $2,260,000
- Income-Based Land
- $2,770,000
- Food Service
- $2,550,000
Location Insight
- Map
- Local Demand
- City
- Eastpointe
- County
- Macomb
- State
- Michigan
- Longitude
- -82.9286
- Latitude
- 42.465
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
