3431 Joy Rd Detroit, MI 48206-1948

This exceptional retail investment opportunity presents a 12,198 square foot Dollar General store in Detroit, Michigan. Boasting a 9.00% cap rate and a substantial net operating income (NOI) of $94,000, this property offers a compelling return on investment. The building, situated on a 0.81-acre lot with 60 parking spaces, underwent a complete "retrofit to suit" renovation in 2022, leaving only the exterior walls and trusses from the original 1954 construction. The property benefits from a double net (NN) lease with Dollar General, the nation's largest discount retailer, featuring approximately 17.5 years remaining until lease expiration, plus four five-year renewal options with built-in rental increases. The property is zoned B4 and features a low rent per square foot, significantly below replacement cost. This strong credit asset is located in a densely populated area with favorable demographics for dollar stores, making it an ideal addition to any investment portfolio. The property's history as a supermarket from 1974 to 2020 further underscores its enduring appeal as a community shopping mainstay. The asking price is $1,044,444, with a price per square foot of $96.33. The property's address is 3431 Joy Rd, Detroit, MI 48206, and its APN is W12I002705C16.