$1 Auction - REIT Sale | Former Advance Auto 8657 Greenfield Rd Local commercial 631 m² À vendre Detroit, MI 48228 1 € (0,00 €/m²)

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Marcus & Millichap and RI Marketplace are pleased to present a vacant, free-standing retail building located at 8657 Greenfield Road in Detroit, Michigan (the “Property”). Formerly occupied by Advance Auto Parts, the Property is being offered significantly below replacement cost, providing an excellent opportunity for owner/users or investors to acquire a highly visible and strategically positioned asset at a significant discount. FIRST BID MEETS RESERVE!
Built in 2006, the Property consists of a one-story, free-standing retail building containing ±6,791 gross square feet, with 28 total surface parking spaces on a ±0.57-acre parcel (±24,833 SF). The Property also offers an additional one-story shed to the rear of the site containing ±458 SF. The site is positioned on a hard corner and is easily accessible via two (2) ingress/egress curb cuts and 145’ frontage along Greenfield Road and 168’ frontage on Joy Road. The Property offers a pylon sign and was previously occupied by Advance Auto Parts on a NNN lease and offers potential owner-users or investors the ability to unlock significant value-add potential through lease-up at long-term market rates (CoStar estimated retail rents of $11-14/SF NNN). Zoned M-4, Intensive Industrial District, this zoning offers favorable flexible zoning allowing for a variety of uses.
The Property is located in the western portion of Detroit, within the West of Woodward Submarket. Benefiting from hard-corner frontage along both Greenfield Road (±20,904 VPD) and Joy Road (±16,413 VPD), the site enjoys high visibility along two heavily traveled urban corridors within a dense and established commercial area. Greenfield Road serves as a major north-south arterial, while Joy Road is a key east-west connector, with nearby access to I-96 (±147,248 VPD) and the Southfield Freeway providing excellent regional connectivity throughout Detroit and its suburbs. The Property is situated approximately ±17-min from Downtown Detroit and less than ±4-mi from Downtown Dearborn, home to major corporate campuses such as Ford Motor Company’s World Headquarters (±5.5-mi) and Beaumont Hospital–Dearborn, a 632-bed medical center (±6.5-mi), driving consistent weekday traffic and professional demand to the area. Retail activity is further supported by Fairlane Town Center, a super-regional shopping mall located just ±4-mi from the Property, along with strong nearby national and local retailers including Walmart, Home Depot, Target, and Best Buy. Additional educational demand generators include the University of Michigan–Dearborn (±5.5-mi) with over 8,000 enrolled students and Henry Ford College (±5.5-mi) serving approximately 11,345 students. The Property is positioned within an extremely dense trade area, serving ±161,223 residents within a 3-mi radius and more than 376,000 residents with an average household income exceeding $62k within a 5-mi radius.