3431 Joy Rd Detroit, MI 48206
Property profile & analytics
3431 Joy Rd, Detroit, MI 48206
- Grocery and convenience stores
- 12,112 SF
- 0.81 lot acres
Property ID
US43-1827361
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Dollar General / Grocery & Convenience Store
- Steinmetz Flooring Company / General Contractor / Carpet & Flooring Store
Property Details for 3431 Joy Rd
- Year built
- 1954
- Lot size
- 0.81 lot acres
- Zone code
- B4
- Property type
- Grocery and convenience stores
- APN
- 12002705-16
- APU
- 1200270516
Description
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.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Detroit
- County
- Wayne
- State
- Michigan
- Longitude
- -83.1162
- Latitude
- 42.3705
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2020
$8,793
$0.00
$0.00
$105,000
-
$0.00
$0.00
$210,000
