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Family Dollar (New Lease Extension)

3911 Joy Rd, Detroit, MI 48206

Listing Price: $900,000

Cap Rate
8.33%
Tenant Name
Family Dollar
Years Remaining On Lease
5.80
Gross SF
9,180
Guarantor
Corporate Guarantee
Rentable SF
9,180
Price/Gross SF
$98.04
Lease Type
Double Net
Rent Per Square Feet
$8.17

Investment Overview

Marcus & Millichap is pleased to present the offering for a free-standing Family Dollar located at 3911 Joy Road, Detroit, MI 48206. Built-in 2005, the property consists of a 9,180 square-foot building built to suit for Family Dollar. The Family Dollar has six-(6) years remaining on a double (NN) lease, leaving the landlord with the responsibilities of maintaing the roof, paving the parketing lot, and replacing the HVAC. The tenant has the responsibility of maintaining and repairing the parking lot and HVAC. The rent for this term commenced in June 2019 and will expire in June 2026. The tenant has a one-time early termination option that expires on January 1, 2021. The initial annual fixed rent is $75,000 and is subject to four, five-year extension options.

Investment Highlights

  • Recently Extended | 5-Year Double Net Lease
  • Tenant Renovated Store & Renewed Lease Early in 2019
  • Affluent Demographics: 404,120+ Residents | $41,000+ AHHI Within 5-Miles
  • Located approximately 9-Miles from Ford Motor Company World Headquarters
  • Located Approximatley 6-Miles from Downtown Detroit

Exclusively Listed By

Discount

Family Dollar (New Lease Extension)

Listing Price: $900,000

Cap Rate
8.33%
Tenant Name
Family Dollar
Years Remaining On Lease
5.80
Gross SF
9,180
Guarantor
Corporate Guarantee
Rentable SF
9,180
Price/Gross SF
$98.04
Lease Type
Double Net
Rent Per Square Feet
$8.17

Investment Highlights

  • Recently Extended | 5-Year Double Net Lease
  • Tenant Renovated Store & Renewed Lease Early in 2019
  • Affluent Demographics: 404,120+ Residents | $41,000+ AHHI Within 5-Miles
  • Located approximately 9-Miles from Ford Motor Company World Headquarters
  • Located Approximatley 6-Miles from Downtown Detroit

Investment Overview

Marcus & Millichap is pleased to present the offering for a free-standing Family Dollar located at 3911 Joy Road, Detroit, MI 48206. Built-in 2005, the property consists of a 9,180 square-foot building built to suit for Family Dollar. The Family Dollar has six-(6) years remaining on a double (NN) lease, leaving the landlord with the responsibilities of maintaing the roof, paving the parketing lot, and replacing the HVAC. The tenant has the responsibility of maintaining and repairing the parking lot and HVAC. The rent for this term commenced in June 2019 and will expire in June 2026. The tenant has a one-time early termination option that expires on January 1, 2021. The initial annual fixed rent is $75,000 and is subject to four, five-year extension options.

Exclusively Listed By

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