3431 Joy Rd
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3431 Joy Rd
12,198 SF Retail Building Detroit, MI 48206 $1,044,444 ($86/SF) 9% Cap Rate
Investment Highlights
- Double Net Lease with ±7.5 years remaining; equipped with (4) five-year options to renew.
- Rental increases every 5-years and through the option periods.
- Strong dollar store demographics – densely populated market.
- Dollar General is the country’s largest discount retailer – NYSE: DG S&P 500 Component.
- The Property was previously a Supermarket from 1974 to 2020 – Almost a century of service to the community and a shopping mainstay in the local area.
- Offered at a low rent and replaceable Rent/SF – Strong credit asset in which Buyer is paying well below replacement cost.
Executive Summary
Brand New “Retrofit to Suit” - EVERYTHING on and in the Building is brand new except for outer walls and trusses.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
12,198 SF
Building Class
C
Year Built/Renovated
1954/2022
Price
$1,044,444
Price Per SF
$86
Cap Rate
9%
NOI
$94,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.35
Lot Size
0.81 AC
Zoning
B4 - General Business District
Parking
60 Spaces (4.92 Spaces per 1,000 SF Leased)
Frontage
413 FT on Joy Rd
Amenities
- Bus Line
- Pylon Sign
PROPERTY TAXES
| Parcel Number | 12-00270-516 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $105,000 |
PROPERTY TAXES
Parcel Number
12-00270-516
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$105,000
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3431 Joy Rd
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