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McDonald’s | Dual Drive-Thru 32811 Stephenson Hwy 2,784 SF Retail Building Royal Oak, MI 48073 $1,716,421 ($616.53/SF) 4.50% Cap Rate
Investment Highlights
- Longstanding Historical Location
- High-Performing McDonald’s Site
- Corporate-Guaranteed Ground Lease
- Upcoming 5% Rent Increase on 11/1/2026
- Prime Detroit MSA Retail Corridor Location
- Surrounded by Major Development Momentum
Executive Summary
Marcus & Millichap is pleased to present a corporate-guaranteed McDonald’s at 32811 Stephenson Highway in Madison Heights, MI, a prime retail corridor within the Detroit MSA. The property delivers stable, passive income backed by McDonald’s Corporation and benefits from +5 years of remaining primary term with a scheduled 5% rent increase on 11/1/2026. The site is a long-operating, legacy McDonald’s featuring a double drive-thru, strong traffic exposure, and direct access from both major cross streets.
Strategically positioned along Stephenson Highway, a major north–south commercial artery with connectivity to Interstate 75, the property sits within a dense, established suburban trade area supported by strong population density, high household incomes, and a large daytime employment base. The corridor is anchored by national retailers, hotels, automotive uses, and service-oriented businesses that generate consistent consumer activity and reinforce long-term tenant performance.
Originally developed in 1998 and renovated in 2012, the site demonstrates durable operational history and long-term brand commitment. With a replaceable rent structure, corporate credit, and proximity to major regional retail nodes—including Oakland Mall and multiple national big-box centers—the asset offers investors a high-quality net-lease opportunity in one of Metro Detroit’s most active commercial corridors.
Strategically positioned along Stephenson Highway, a major north–south commercial artery with connectivity to Interstate 75, the property sits within a dense, established suburban trade area supported by strong population density, high household incomes, and a large daytime employment base. The corridor is anchored by national retailers, hotels, automotive uses, and service-oriented businesses that generate consistent consumer activity and reinforce long-term tenant performance.
Originally developed in 1998 and renovated in 2012, the site demonstrates durable operational history and long-term brand commitment. With a replaceable rent structure, corporate credit, and proximity to major regional retail nodes—including Oakland Mall and multiple national big-box centers—the asset offers investors a high-quality net-lease opportunity in one of Metro Detroit’s most active commercial corridors.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,784 SF
Building Class
C
Year Built/Renovated
1998/2012
Price
$1,716,421
Price Per SF
$616.53
Cap Rate
4.50%
NOI
$77,239
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.05 AC
Zoning
C-1 - Commercial
Parking
45 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
150’ on Stephenson Hwy
Amenities
- Pylon Sign
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- 2,784 SF
- $27.74
- Triple Net
- Oct 2031
McDonald's began in 1940 when Richard and Maurice McDonald opened a restaurant in California. The modern corporation formed in 1955 when Ray Kroc joined as a franchise agent and later purchased the company. Today, it operates numerous locations worldwide through a franchise model. While primarily a fast food chain, McDonald's also generates income from owning many restaurant properties. The company has maintained its core menu while adapting to international markets. McDonald's remains one of the most recognizable brands in the global food service industry.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 2,784 SF | $27.74 | Triple Net | Oct 2031 |
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
20/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 25-02-101-061 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $201,000 |
Property Taxes
Parcel Number
25-02-101-061
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$201,000
Contacts
-
Tyler Bindi -
Jason Fefer -
Robert Narchi -
Jeni Tran -
Paul Kerber -
Marcus & Millichap
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McDonald’s | Dual Drive-Thru | 32811 Stephenson Hwy
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