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Krispy Kreme - Allen Park, MI 15050 Southfield Rd

4,488 SF Retail Building Allen Park, MI 48101 $2,275,000 ($507/SF) 5.25% Cap Rate

Investment Highlights

  • Ideal, management-free investment for a passive investor
  • The asset benefits from nearby access onto State Highway 85 (42,600 VPD), Interstate 75 (104,500 VPD), Interstate 94 (155,000 VPD)
  • Ideally situated within a dense retail trade area. Nearby national/credit tenants include Kroger, The Home Depot, Target, ALDI, Meijer and more
  • More than 288,200 residents and 117,000 employees support the trade area

Executive Summary

Krispy Kreme has shown its long-term commitment to this site by exercising their second of four option periods, securing their lease through October 2028. The lease includes CPI increases at the beginning of each option period, which helps grow NOI and hedge against inflation. Krispy Kreme has been operating at this location since 2003, highlighting the strength of the site. The lease is signed by the corporate entity (NASDAQ: DNUT), and Krispy Kreme, founded in 1937, is a globally recognized brand with a strong customer base in 35 countries.
The tenant is responsible for CAM, taxes, insurance, and maintenance, leaving the landlord with no responsibilities. The property is located near numerous single-family communities and multi-family complexes, providing a direct residential consumer base. The trade area is supported by over 288,200 residents and 117,000 employees, with an average household income of $78,438.
Krispy Kreme is ideally situated within a dense retail trade area, surrounded by national and credit tenants such as Kroger, The Home Depot, Target, ALDI, Meijer, and ACE Hardware. The property is within 3 miles of Corewell Health Dearborn Hospital, Ford Research & Product Development Center, and Ford Dearborn Manufacturing Plant, making it a convenient option for coffee and dessert needs. The strong tenant synergy in the area increases consumer draw, promotes crossover store exposure, and contributes to the local economy.
The property is among the most visited bakeries and dessert shops in Michigan, with over 233,000 annual visits, ranking in the top 85th percentile according to Placer.ai. Strategically located along Southfield Road, it has excellent visibility and access, with an average of 61,700 vehicles passing by daily. The property is a quick 19-minute drive into Downtown Detroit and is equipped with a drive-thru for customer convenience.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
4,488 SF
Building Class
B
Year Built
2003
Price
$2,275,000
Price Per SF
$507
Cap Rate
5.25%
NOI
$119,381
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Land Acres
1.10 AC
Zoning
C 4
Parking
40 Spaces (8.91 Spaces per 1,000 SF Leased)
Frontage
209 FT on Southfield Rd

Amenities

  • Signage
  • Drive Thru
Walk Score ®
Very Walkable (78)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Chase Bank
Big Boy
Starbucks
Kroger
Bank of America
Chicken Shack
Checkers
BIGGBY Coffee
Fifth Third Bank
Tim Hortons

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
30-011-02-1435-002
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$539,100
  • Listing ID: 31715563

  • Date on Market: 5/6/2024

  • Last Updated:

  • Address: 15050 Southfield Rd, Allen Park, MI 48101

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