Detroit, Michigan, is a prime location for investing in shopping centers, with a rich history in the automotive industry and a diverse cultural scene. Shopping centers in Detroit offer a unique opportunity for investors to tap into the city's revitalization efforts, with many amenities and attractions drawing visitors and residents alike. These properties can represent a range of investments, from retail spaces to mixed-use developments, and offer a chance to capitalize on the city's growth. Detroit's shopping centers often feature a mix of local boutiques, national chains, and restaurants, catering to the city's approximately 680,000 residents. The city's infrastructure, including its freight railroads, airports, and freeways, makes it an attractive location for businesses and residents. Additionally, Detroit is home to major institutions like Wayne State University and the Henry Ford Health System, which contribute to the city's economic landscape.
With 5 shopping centers for sale in Detroit, investors have a range of options to choose from. The average price per square foot for shopping centers in Detroit is $94 USD, with an average size of 23,338 square feet. The largest shopping center available is 47,311 square feet, offering ample space for a variety of businesses. Detroit's shopping centers also offer a competitive average cap rate of 10.56%. In addition to shopping centers, Detroit offers a range of other property types, including restaurants, specialty properties, land, and office properties. Restaurants in Detroit can be found in popular areas like Midtown and Downtown, while specialty properties like the Eastern Market offer unique opportunities for investors. Land is also available for development, with many parcels zoned for commercial or mixed-use projects. Office properties in Detroit are often located in the city's central business district, with many Class A and Class B buildings available. Overall, Detroit's shopping centers offer a compelling investment opportunity, with a unique blend of history, culture, and economic growth.
What is the average cap rate for shopping centers in Detroit?
For investors seeking shopping centers in Detroit, the average cap rate is 10.56%, offering a promising opportunity to capitalize on the city's revitalization efforts and diverse economy.
