6524 W Saginaw Hwy - Restaurant FOR SALE


Lansing, MI 48917- Delta Township
$2,050,000 USD
949-506-2012
6524 W Saginaw Hwy, Lansing, MI for Sale
$2,050,000 USD
Restaurant - FOR SALE
1/8
null | 7.5% Cap Rate

6524 W Saginaw Hwy
Lansing, MI 48917
Delta Township


HIGHLIGHTS

  • Strong Operator/Guarantor | Excellent Sales | Sub 4.5% Rent-To-Sales
  • NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
  • Outparcel To Kohl’s and Kroger | Excellent Retail Corridor With Strong National/Credit Tenant Presence
  • Less Than 1.5 Miles From The Marketplace At Delta Crossing Development
  • Strong Demographics In 5-Mile Trade

OVERVIEW

• The tenant is performing extremely well at the location, operating at a sub 4.5% rent-to-sales ratio • The tenant Ansara Restaurant Group (20+ locations), has approximately 3.5 years remaining on its lease with 3 (5-year) options to extend • The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation • The franchisee operates over 20 Red Robin locations, as well as 9 locations across Twin Peaks, Portofino, Burgrz, and 2Booli

FOR SALE DETAILS

PRICE

$2,050,000 USD

PRICE/SF

$388 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Red Robin | Strong Guarantor

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

170

LAND DETAILS

CROSS STREETS

W. Saginaw and Brookside Dr.

LAND ACRES

2.56 AC

LAND SF

111,513 SF

ZONING

NONE

APN/PARCEL ID

040-010-400-056-00

ASK ABOUT THIS PROPERTY

Gary ChouSRS National Net LeaseMore Info
949-506-2012

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Gary ChouSRS National Net LeaseMore Info
949-506-2012

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