Applebee's
Absolute NNN Leased Casual Dining - Prime Western Oakland County Location
Marketing description
Introducing APPLEBEE'S at 455 Haggerty Rd, Commerce Township, MI 48390 - a prime investment opportunity featuring a fully leased Casual Dining property.
With a sale price of $3,977,039 and a competitive 6.35% CAP rate, this property boasts a long-standing lease with Applebee’s since 1997, offering an Absolute (NNN) Lease with no landlord obligations. The 5,182 SF building on a 1.56-acre lot is strategically located as an outparcel to Target & Home Depot, amidst a high-density residential area with over 168,200 residents within a 5-mile radius.
The lease includes 10% rental escalations in each option period, providing a hedge against inflation for investors. Surrounded by national tenants like Target, Costco, and Starbucks, this property enjoys a stable tenant in TSFR Apple Venture, LLC, the franchisee of Applebee's with a strong operating history. Don't miss out on this exceptional investment opportunity in the heart of Western Oakland County!
Investment highlights
Absolute (NNN) Lease | No Landlord Obligations - Location has Been an Applebee's Since 1997 Construction
Outparcel to Target & Home Depot - Target Undergoing Full Interior and Exterior Remodel
Lease is Equipped with 10% Rental Escalations in Each Option Period Providing Investors with a Strong Hedge Against Inflation
5,182 Square Foot Building on a 1.56 Acre Lot - Easily Retenantable Footprint
Extremely Dense Residential Infill | 168,200+ People Reside within a 5 Mile Radius
Household Income within a 1 Mile Radius: $143,900- Phenomenal Demographics
New Development Adjacent to the Property Containing Starbucks, Chipotle, Jersey Mike's, 2941 Mediterranean Street Food, and Beyond Juicery + Eatery
Surrounding National Tenants Include: Target, Costco, Lifetime Fitness, Home Depot, PetSmart, Michaels, McDonald's, Kroger, and Many More
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
