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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
31107590
32817165

3558 Miller Rd, Flint, MI 48507

SY
MI 6501443637
APEX Commercial Real Estate Advisors
AS
MI 6​5​0​2​4​3​3​3​0​7
APEX Commercial Real Estate Advisors
Listed by APEX Commercial Real Estate Advisors
$3,548,500
83 days on market
Updated 18 days ago

Famous Dave's BBQ - 15 Year Lease Renewal

Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant (+1)
Square Footage 6,315
Net Rentable (SqFt) 6,315
Units 1
Cap Rate 7%
NOI $248,395
Occupancy 100%
Tenancy Single
Brand/Tenant Famous Dave's BBQ
Lease Type Absolute NNN
Lease Term 33
Lease Expiration 12/31/2040
Remaining Term 14.6
Rent Bumps Yes
Lease Options Two, Five Year Options with 1% Annual Increase
Price per SqFt $562
Broker Co-Op Yes
Year Built 1985
Year Renovated 2020
Acreage 1.639
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/01/2008
Occupancy Date 01/01/2008
Ground Lease No
Ownership Fee Simple

Absolute NNN | Recent 15 Year Renewal

Investment highlights

Tenant recently renewed their lease for a 15-Year Term Showing Strong Commitment to the location

Absolute NNN Lease – Zero landlord responsibilities, providing a passive income stream

Strong Corporate Guarantee – Backed by Famous Dave’s parent company, ensuring financial stability

Prime Retail Location – Situated in a high-traffic commercial corridor with strong retail synergy

High Visibility & Access – Excellent frontage on a major thoroughfare with easy ingress/egress

Established Tenant with National Recognition – Famous Dave’s is a well-known barbecue restaurant brand with a loyal customer base

Attractive Cap Rate – Competitive return for a stable, long-term investment

Recession-Resistant Tenant: Famous Dave’s has a proven track record of success, offering a stable investment even in fluctuating economic conditions

Well-Maintained Property: Modern building with recent upgrades and strong operational history, minimizing near-term capital expenditures

Thriving Retail Corridor: Located in a high-traffic commercial district with national retailers, grocery stores, and complementary restaurants, ensuring strong consumer draw

Listing Contacts

SY
MI 6501443637
APEX Commercial Real Estate Advisors
AS
MI 6​5​0​2​4​3​3​3​0​7
APEX Commercial Real Estate Advisors
Listed by APEX Commercial Real Estate Advisors

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$248,395.00
$20,699.58/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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Additional Information

Name
Sal Yaldo
License
6501443637
Brokerage
Apex Commercial Real Estate Advisors
Brokerage Phone
248.579.5045
Title
Managing Partner
Brokerage Address
32300 Northwestern Highway
Name
Ayson Shammami
License
6​5​0​2​4​3​3​3​0​7
Brokerage
Apex Commercial RE
Title
Apex Commercial RE
Brokerage Address
32300 Northwestern Highway
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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