20919 8th Mile Rd Detroit, MI 48219-1335

Property Details for 20919 8th Mile Rd

Year built

2000

Lot size

0.66 lot acres

Property size

3,829 SF

Zone code

B4

Property type

Drive through restaurants

APN

22019027.

APU

22019027

Description

This exceptional investment opportunity presents a freestanding 3,829 square foot Popeyes restaurant situated on a 0.66-acre lot in Detroit, Michigan. The property boasts a prime location on Eight Mile Road, a heavily trafficked retail corridor with over 54,000 vehicles per day, and enjoys close proximity to Michigan Highway 10. The building, constructed in 2000 and renovated in 2025, is currently 100% occupied under a brand new 20-year triple-net (NNN) lease with the largest Popeyes franchisee in the system. This hands-off investment offers significant upside potential with 10% rent increases every five years, and four additional five-year renewal options, extending the potential lease term to 40 years. The franchisee, a major player in the QSR industry with a substantial portfolio and significant expansion plans, guarantees a stable and reliable income stream. The property's strong financial performance is reflected in a 5.85% cap rate and a net operating income (NOI) of $167,000. The surrounding area is undergoing revitalization, further enhancing the long-term value of this exceptional investment. This is a rare opportunity to acquire a high-performing, low-maintenance asset in a rapidly growing market. The Detroit metro area, the most populous city in Michigan, offers a diverse and thriving economy, providing a strong foundation for continued success.

Location Insight

City

Detroit

County

Wayne

State

Michigan

Longitude

-83.2498

Latitude

42.4432

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments