1900 N Haggerty Rd - Restaurant FOR SALE


Canton, MI 48187
$3,433,000 USD
404-441-3849
1900 N Haggerty Rd, Canton, MI for Sale
$3,433,000 USD
Restaurant - FOR SALE
1/5
null | 6.65% Cap Rate

1900 N Haggerty Rd
Canton, MI 48187


HIGHLIGHTS

  • NNN lease features ±7.2 years of primary term remaining, four 5-year renewal options and a corporate guaranty from Bloomin’ Brands, Inc
  • Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7x the CPI increase.
  • Long operating history with strong store sales. Since 2019, sales have increased 18%.

OVERVIEW

The CBRE Net lease Property Group is pleased to exclusively offer for sale the 6,511-square-foot Carrabba’s Italian Grill situated on 1.98 acres in Canton, MI—a component of the Detroit-Warren-Dearborn, MI MSA (Population: 4.4 Million). Carrabba’s absolute NNN lease features ±7.2 years of primary term remaining, four 5-year renewal options, and a corporate guaranty from Bloomin’ Brands, Inc.  Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7 times the CPI increase. This store boasts a long operating history with strong store sales. Since 2019, sales have increased 18%.

FOR SALE DETAILS

PRICE

$3,433,000 USD

PRICE/SF

$530 USD /SF

CAP RATE

6.65%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Carrabba's Italian Grill: Canton, MI

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

146

LAND DETAILS

LAND ACRES

15.88 AC

LAND SF

691,603 SF

ZONING

C-4

APN/PARCEL ID

71-050-99-0013-000

ASK ABOUT THIS PROPERTY

Christopher BosworthCBRE, Inc.More Info
404-441-3849

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Christopher BosworthCBRE, Inc.More Info
404-441-3849

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.