Listed by SRS Real Estate Partners Newport Beach
$2,571,000
Mad Nice
Details
APN 02-002364
Property Type Retail
Sub Type Restaurant, Bar
Square Footage 9,000
Units 1
Cap Rate 7.00%
NOI $180,000
Occupancy 100%
Tenancy Single
Remaining Term 7
Lease Options 4 (5-Year)
Year Built 1950
Buildings 1
Stories 1
Lot Size (SqFt) 15,246
Parking Spaces 19 spaces
Parking per 1,000 SqFt 2.11
Investment Type Net Lease
Ground Lease No
Ownership Fee Simple
Premier NNN Single Tenant Restaurant in the Heart of Detroit's Midtown
Marketing description
Located just minutes from downtown, the subject property benefits from its inclusion in Detroit’s entertainment ecosystem. Among the most dense and diverse of any mid-sized American city, Detroit has four major professional sports franchises playing within the city limits, drawing millions of fans annually. Moreover, the city’s casino industry generates over $1.29 billion annually across resort properties MGM Grand Detroit, MotorCity Casino Hotel, and Hollywood Casino at Greektown. Coupled with a hospitality market anchored by the 1,300-room Detroit Marriott at the Renaissance Center, and an additional 4,000 rooms in downtown, further cementing Detroit as one of America’s premier destination cities.
Investment highlights
- Over 7 years remaining
- Midtown Detroit
- 2nd Avenue Corridor
- The Detroit Cultural Center & District Detroit
- The “Future of Health” & Innovation Hubs
- Special Development District
- Pedestrian-Oriented Retail
Listing Contacts
Listed by SRS Real Estate Partners Newport Beach
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$180,000.00
$15,000.00/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
