1950 12th Mile Rd Warren, MI 48092-2417
- Grocery and convenience stores
- 1,334 SF
- 0.39 lot acres
Dec 12, 2024
Current Use by Public Records
- Grocery and convenience stores
Property Details for 1950 12th Mile Rd
- Year built
- 1959
- Lot size
- 0.39 lot acres
- Property size
- 1,334 SF
- Zone code
- MZ
- Property type
- Grocery and convenience stores
- APN
- 12-13-18-101-001
- APU
- 121318101001
Description
This exceptional investment opportunity presents a single-tenant Sunoco gas station and convenience store located at 1950 E 12 Mile Rd, Warren, MI 48092. The property, situated on a highly visible 0.55-acre corner lot at the intersection of 12 Mile Road and Dequindre Road in Macomb County, boasts a strong location within a busy commercial area. Built in 1959, this retail property features a long-term lease with a national tenant, Sunoco, providing a stable income stream. The current lease commenced June 23, 2015, and expires April 1, 2029, leaving approximately 4.4 years remaining. The property enjoys 100% occupancy and minimal landlord responsibilities, making it an attractive investment for passive income seekers. The Net Operating Income (NOI) is $52,453, resulting in a compelling 5.52% capitalization rate. The asking price for this well-established business is $950,000. This property benefits from excellent visibility and high traffic counts on both sides of the road, making it an ideal retail or vehicle-related investment. The property's strategic location and prominent presence in the market offer significant business potential. The parcel number is 12-13-18-101-001.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Warren
- County
- Macomb
- State
- Michigan
- Longitude
- -83.0852
- Latitude
- 42.5049
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
