19160 Greenfield Rd Detroit, MI 48235-2001
- Drug stores
- 10,982 SF
- 1.51 lot acres
Current Use by Public Records
- Family Dollar / School Supply Store / Tobacco Shop
- Rite Aid Photo / Photo Lab
- CDReload - Online Bitcoin ATM / Crypto Atm / Atm
- Coinhub Bitcoin ATM Teller / Atm
Property Details for 19160 Greenfield Rd
- Year built
- 1998
- Lot size
- 1.51 lot acres
- Property size
- 10,982 SF
- Zone code
- B3
- Property type
- Drug stores
- APN
- 22050268.
- APU
- 22050268
Description
This exceptional retail investment opportunity presents a 11,057 square foot Family Dollar store located at 19160 Greenfield Rd, Detroit, MI 48235, within the Detroit MSA. The property boasts a 10-year Net Net (NN) lease with six, five-year renewal options, providing significant long-term stability. The lease is corporately guaranteed by Dollar Tree, a credit-rated investment-grade tenant (BBB-), offering exceptional security. With an 8.00% cap rate and a current NOI of $82,000, this property offers a compelling return on investment. The building, constructed in 1998, enjoys 100% occupancy and benefits from a high-traffic location with over 16,000 vehicles per day passing by. The surrounding demographics are highly favorable, with approximately 383,488 residents within a 5-mile radius and an average household income of $66,699. This property is ideally situated to capitalize on the strong performance of Family Dollar, a leading discount retailer with over 16,000 locations nationwide. The asking price is $1,025,000. This is a rare opportunity to acquire a stable, high-performing retail asset with a strong tenant and significant upside potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,325,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,265,000
- 6.5%
- $1,320,000
- 7%
- $1,230,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,350,000
- Geo Method
- $1,385,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,120,000
- Retail
- $975,000
- Mixed-Use
- $1,290,000
- Hospitality
- $1,140,000
- Educational
- $1,130,000
- Residential Income
- $990,000
- Energy
- $1,020,000
- Income-Based Land
- $1,165,000
- Food Service
- $1,305,000
Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1993
- Latitude
- 42.4313
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
