Pricing and returns: Purchase price $550,000. Current NOI $69045 with a 12.6% cap rate.
Low basis: 5,169 SF at $106 per SF, providing an attractive entry point for Detroit infill retail.
Recent capital program (2022–2024): New roof in 2022 with full tear-off and all new metal decking; new plumbing in 2024; new electrical in 2024; three new 5ton N32 HVAC units in 2024; façade refreshed, full exterior painting, and parking lot redone. Minimal near-term capex.
Functional layout: Single-story strip with multiple entrances, supporting flexible multi-tenant configurations and straightforward demising.
Location and access: Prominent frontage on West McNichols within an established neighborhood commercial corridor, strong daily traffic, excellent visibility and signage, and on-site parking with convenient ingress/egress.
Demographics: Dense trade area with approximately 21,549 residents within 1 mile, 155,615 within 3 miles, and 392,525 within 5 miles; solid household incomes in the wider rings.
Zoning and use: B2 zoning allows a broad range of commercial uses, supporting both owner-user and investor strategies.
Upside: Lease-up and rent growth potential supported by refreshed building systems and a low cost basis.

Royal Plaza

For Sale