Entity Owned Property summary
This exceptional investment opportunity presents a newly constructed, 20,664-square-foot Aldi grocery store in Fenton, Michigan. The property boasts a 20-year ground lease (commencing January 1, 2024, and expiring January 1, 2044) with a prominent location on Owen Road (37,990+ vehicles per day) and direct access to US-23 (90,912+ vehicles per day). The building, constructed in 2024, is classified as Class A and benefits from a strong, affluent customer base of 45,625 residents with an average household income of $126,958. The lease includes rent bumps, providing a hedge against inflation. The 3.67-acre lot is zoned GBD (PUD). This single-tenant, net lease investment offers a 4.70% cap rate and is priced at $3,915,000 ($189.46/sq ft). The lease is backed by Aldi, Inc., a globally recognized grocery chain. This is a 1031 exchange eligible property. The property's prime visibility and connectivity, combined with the long-term lease and strong tenant, make this a compelling investment opportunity in the desirable Metro Detroit area.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
b. The Low Density Residential District (LDR) is intended to be a low density single-family residential district. The intent of the district is to provide a low density environment of predominantly single-family dwelling…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
LDR · Fenton, MIb. The Low Density Residential District (LDR) is intended to be a low density single-family residential district. The intent of the district is to provide a low density environment of predominantly single-family dwelling…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
b. The Low Density Residential District (LDR) is intended to be a low density single-family residential district. The intent of the district is to provide a low density environment of predominantly single-family dwelling…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for LDR in Fenton, MI.
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