3911 Joy Road, Detroit, MI
Retail for Sale - $975,000 - 9,180 Sq. Ft. on 41382 acres
Property Info
CIMLS# | 692820 |
Location 3911 Joy Road Detroit MI 48204 | |
Updated | October 28th, 2015 |
Type | Retail |
Price | $975,000 |
Building | 9,180 Sq. Ft. |
Land | 41382 acres |
Property Description
Sperry Van Ness is pleased to offer this Detroit, Michigan Family Dollar NN fee-simple investment. The investment consists of a 9,180 SF, single tenant, free standing building leased to Family Dollar through June 2016. The next five year renewal has a 10% rent increase. The quality masonry construction is on a .95 acre site.
Location Description:
This Family Dollar is located at 3911 Joy Road in Detroit, Michigan. Detroit and the region are a major center of commerce and global trade, as well as home to the big three automobile companies: General Motors, Ford, and Chrysler. This urban location has a population of 23,000+ within one mile.
Highlights:
>> Double Net (NN) Investment - Landlord responsible for roof & structure
>> 10% renewal increase 6/2016
>> Masonry construction in urban location
>> 1031 exchange opportunity
>> Investment Grade Tenant - Family Dollar (S&P BBB-)
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Financials
Sales Info:
>> Commision split: 2.0%