Listed by Mid-America Real Estate - Michigan, Inc.
$4,000,000
High Profile CAVA Grill
Details
APN 023-99-0001-013
Property Type Retail
Sub Type Restaurant
Square Footage 2,500
Cap Rate 5.50%
NOI $220,000
Occupancy 100%
Tenancy Single
Brand/Tenant CAVA Mezze Grille, LLC
Lease Type Gross
Lease Term 15
Lease Expiration 07/30/2041
Remaining Term 15
Rent Bumps Yes
Lease Options 4 x 5-year options
Year Built 2026
Acreage 1.000
Investment Type Net Lease
Lease Commencement 07/31/2026
Ground Lease Yes
Ownership Fee Simple
NEQ 7 Mile & Haggerty Roads, Livonia, MI 48152-1047
Marketing description
Mid-America Real Estate - Michigan, Inc. has been retained on behalf of ownership to sell the 100% fee simple interest in 1 acre of land with a ground lease containing a brand-new 2,500 square foot CAVA Grill restaurant with a drive-thru in Livonia, Michigan. The property is ideally positioned at the northeast quadrant of 7 Mile Road and Haggerty Road, in a tier 1 market in Michigan, and offers investors a near bulletproof income stream featuring a longterm ground lease in a strong and stable market.
Investment highlights
- Long Term Ground Lease, No Landlord Responsibilities - CAVA has a demonstrated long term commitment to the subject property by signing a 15-year lease that includes options for an additional 20 years. In addition to the tenant's long term commitment, there are no ongoing maintenance obligations for ownership of this asset. Tenant is fully responsible for any and all maintenance, taxes, and insurance of the property.
- New Prototype Construction - Subject property is a new 2026 constructed building with a drive-thru that is ideally built to CAVA's specifications. The property features a large kitchen and ample seating area. The new modern look of the building is attractive and matches the adjacent property well.
- Strong Market Co-Tenancy - CAVA is conveniently located on a shared pad with Shake Shack at the northeast quadrant of 7 Mile Road and Haggerty Road. The Haggerty Road corridor is a retail hub featuring numerous shopping centers, big box retailers and national tenants. Nearby retailers include Costco, Target, Meijer, Trader Joe's, The Home Depot, as well as a brand new Nino Salvaggio International Marketplace (Gourmet Grocer), and an incoming Whole Foods development.
- Great Access & Visibility - The restaurant is well located on the northeast quadrant of 7 Mile Road (17,166 vpd) and Haggerty Road (30,300 vpd) in Livonia, Michigan. The pad offers two points of egress/ingress and shared parking with Shake Shack. The site is adjacent to the I-275 interchange, which sees more than 160,000 vehicles per day.
- Dense Residential Customer Base - This CAVA location benefits from dense and affluent demographic nearby. Within three miles of the property, there are over 75,000 residents with average household incomes of over $140,000. The five-mile radius of the property steadily supports the restaurant with a population of 190,467 earning in excess of $142,181. The daytime population within 5-miles reaches nearly 260,000 people with over 168,000 being workers.
Listing Contacts
Listed by Mid-America Real Estate - Michigan, Inc.
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$220,000.00
$18,333.33/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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