June 20, 2022 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of Family Dollar in Detroit, Michigan. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,200,000.
Family Dollar is located at 3911 Joy Road in Detroit, Michigan. Family Dollar has been at this location since 2006 (15 Years) and recently executed their renewal option, demonstrating their commitment to the site and the market. Family Dollar has 4+ years of term remaining on their double net lease with three (3) additional 5-year renewal options. The lease features a 10% rent increase at the start of each renewal option. The Property is situated on a 0.66-acre corner lot with outstanding visibility and frontage along Joy Road. The Property benefits from ample on-site parking and two points of access along Joy Road, and is 1-block from the signalized intersection with Dexter Avenue. The Property benefits from a central location along Joy Road, one of the area’s primary roadways running through a densely populated residential neighborhood just northwest of Detroit’s Central Business District. The Property is well located and offers convenient access to Interstate 96 and MI Route 5 (0.75-miles), MI-Route 10 (1.5-miles), MI Route 1 (2-miles), and Interstate 75 (3-miles).
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.