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Property profile & analytics
FOR LEASE
Strip malls

31501 Joy Rd Westland, MI 48185

32,368 SF 3.6 ac lot Built 1957
Entity Owned 1-yr Hold Absentee Owner Free & Clear
Property ID
US43-1757642
Property summary
AI-generated overview

This exceptional retail opportunity is located at 31501 Joy Road in Westland, Michigan, 48185. The Joy & Merriman Retail Center offers a prime location at the corner of Joy Road and Merriman, boasting high visibility and excellent access. The property is a multi-tenant strip center with a total of 32,208 square feet. Currently, there is 2,700 square feet of vacant space available, ideal for a variety of retail uses. This space is divisible to a minimum of 1,000 square feet and can accommodate up to 1,700 contiguous square feet. The available space includes a built-out office area, adding significant value and convenience for potential tenants. The center enjoys strong existing tenancy, with established businesses such as CVS Pharmacy, Natural Nails, and Benny's Pizza already operating within the complex. This presents a fantastic opportunity to join a thriving retail environment in a high-traffic area. The property's strategic location and the inclusion of a ready-to-use office space make this an attractive proposition for businesses seeking immediate occupancy and a well-established commercial presence. The property is situated at 42.3534036 latitude and -83.3534755 longitude. Serious inquiries are encouraged to explore this promising retail investment.

Property profile
Verified
Property type Strip malls
Use group SHOPPING CENTER, STRIP CENTER
Year built 1957
Total area 32,368 SF
Lot 3.6 ac (156,816 SF)
APN 56 009 99 0001 002
UPID US43-1757642
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • CVS Photo (Bike/Boat/Book/etc) Store
  • CVS Pharmacy
  • CVS Pharmacy Pharmacy
  • MoneyGram Bank Credit Union
  • Coinhub Bitcoin ATM Teller Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$2.67M
Blend (final) Blend
$2.67M
Owner & transaction history
Victorian Properties Of Michigan Ll · 1 yrs held
Victorian Properties Of Michigan Ll
since 2025
5 recorded transactions
2025
Price N/A
2020
$2.3M
2019
Price N/A
2019
Price N/A
1969
Price N/A
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building $4.3M +67.2%
Auto repair, garage $3.6M +38.0%
Retail stores $3.5M +34.9%
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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