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16401 Harper Ave
Detroit, MI 48224
 FAMILY DOLLAR · Retail Property For Sale

Retail Spaces Michigan Detroit 16401 Harper Ave, Detroit, MI 48224

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INVESTMENT HIGHLIGHTS

  • 2004 build-to-suit construction for Family Dollar
  • Two, 5-Year renewal options remaining; all of which include a 10% rent increase
  • Strong corporately guaranteed lease
  • This store ranks in the top 17% of all Family Dollar stores nationwide, according to Placer.Ai
  • Tenant recently extended their lease early to a new 10-year term
  • Located off Hwy 94 were traffic counts exceed +134,688 vehicles per day

EXECUTIVE SUMMARY

3-Mile population of ±21,903 residents. 5-Mile population of ±292,167 residents. Detroit is a six-county metropolitan statistical area (MSA) —making it the 14th-largest MSA in the United States. Investment Grade Credit Tenant – S&P Rated BBB-. Family Dollar is one of the few retailers that thrived through the COVID pandemic and witnessed a sharp increase in same store sales / profitability.

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Property Subtype
Department Store
Building Size
9,954 SF
Building Class
B
Year Built
1960
Price
$1,824,457 CAD
Price Per SF
$183.29 CAD
Cap Rate
8.25%
NOI
$150,518 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.55
Lot Size
0.41 AC
Opportunity Zone
Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning
B-4 - Business use
Parking
39 Spaces (3.92 Spaces per 1,000 SF Leased)
Frontage
180’ on Harper Ave

LINKS

PROPERTY TAXES

Parcel Number 21-00456-875 Improvements Assessment $0 CAD
Land Assessment $0 CAD Total Assessment $351,658 CAD

PROPERTY TAXES

Parcel Number
21-00456-875
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$351,658 CAD
 

  • Listing ID: 31051058

  • Date on Market: 2024-02-26

  • Last Updated:

  • Address: 16401 Harper Ave, Detroit, MI 48224

The Far East Side Retail Property at 16401 Harper Ave, Detroit, MI 48224 is currently available. Contact Matthews Real Estate Investment Services for more information.

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16401 Harper Ave, Detroit, MI for sale Building Photo- Image 1 of 4
Family Dollar - 16401 Harper Ave - 1wm (1)
16401 Harper Ave, Detroit, MI for sale Building Photo- Image 2 of 4
Family Dollar - 16401 Harper Ave - 2wm (1)
16401 Harper Ave, Detroit, MI for sale Building Photo- Image 3 of 4
Family Dollar - 16401 Harper Ave - mapwm (1)

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