Detroit, Michigan, is a prime location for investing in Retail Properties For Sale, with a rich history and cultural significance. As a major city in the Midwestern United States, Detroit offers a unique blend of automotive heritage, artistic expression, and architectural landmarks. With 118 Retail Properties For Sale, investors can capitalize on the city's revitalization efforts and growing demand for commercial spaces. Retail Properties in Detroit can represent a diverse range of investments, from strip centers and shopping malls to freestanding buildings and restaurants. These properties often benefit from the city's strong infrastructure, including major highways, airports, and freight railroads. Detroit's location on the United States-Canada border also makes it an attractive hub for international trade and commerce. The city's amenities, such as Comerica Park, Ford Field, and Little Caesars Arena, draw visitors and locals alike, creating a dynamic environment for businesses to thrive. Additionally, Detroit is home to esteemed institutions like Wayne State University and the Henry Ford Health System, which contribute to the city's economic and cultural vitality.
Detroit's Retail Properties For Sale offer investors a unique opportunity to tap into the city's revitalization efforts. With an average price per square foot of $140 USD and an average size of 11,220 square feet, these properties provide a range of investment options. The largest Retail Property available spans 115,938 square feet, offering ample space for businesses to grow. Detroit's average cap rate of 8.8% also makes it an attractive location for investors seeking stable returns. In addition to Retail Properties, Detroit is home to a range of other commercial properties, including Shopping Centers, Restaurants, Office Properties, and Hotels. Each of these property types offers its own unique advantages, from the foot traffic of shopping centers to the convenience of restaurants and office spaces. With its rich history, cultural attractions, and growing economy, Detroit is an ideal location for investors seeking to diversify their portfolios with Retail Properties For Sale.
What is the average cap rate for retail properties in Detroit?
When it comes to retail properties in Detroit, investors can expect an average cap rate of 8.8%. For those new to commercial real estate investing, a cap rate, or capitalization rate, is a crucial metric that helps determine the potential return on investment - to learn more, check out our article on what is a cap rate.
How do location and foot traffic affect retail property values?
In Detroit, the location of a retail property plays a significant role in determining its value, with properties situated in high-traffic areas such as Downtown, Midtown, and Corktown commanding higher prices due to their proximity to major attractions, public transportation, and a dense population. For instance, a retail property with high foot traffic near Comerica Park or Ford Field can expect to see increased property values, with an average price per square foot of $140 USD and an average size of 11,220 square feet, making it an attractive investment opportunity.
