8657 Greenfield Rd - Freestanding FOR SALE


Detroit, MI 48228- West Side
$140,000 USD
305-206-1286
8657 Greenfield Rd, Detroit, MI for Sale
$140,000 USD
Freestanding - FOR SALE
1/10
null | Request Cap Rate

8657 Greenfield Rd
Detroit, MI 48228
West Side


HIGHLIGHTS

  • ABSOLUTE $1 AUCTION | Former Advance Auto Parts | 37K VPD | Detroit | AUCTION JUNE 9-11, 2025
  • 6,791 SF Value-Add Retail (Former Advance Auto Parts) in Detroit, MI; ±1.5 Miles from I-96
  • 37K+ VPD Traffic Counts at Signalized Intersection (±20,904 VPD on Greenfield Rd & ±16,413 VPD on Joy Rd)
  • Neighboring National Retailers: Walmart, Home Depot, Target, Best Buy, PetSmart, Burlington, Five Below, more
  • Attractive Demographics with 5-Mile Population of ±161,223 People with an Annual Household Income of $56,473
  • Zoning: M-4, Intensive Industrial, allowing Flexibility and a Variety of Uses

OVERVIEW

Marcus & Millichap is 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.

FOR SALE DETAILS

PRICE

$140,000 USD

PRICE/SF

$21 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

$1 Auction - REIT Sale | Former Advance Auto

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

28

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,829 SF

ZONING

M4

APN/PARCEL ID

22-002284

ASK ABOUT THIS PROPERTY

Philip KatesMarcus & MillichapMore Info
305-206-1286

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Philip KatesMarcus & MillichapMore Info
305-206-1286

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.