Historical Retail Sale Listing - CHEESEBURGER IN PARADISE (OUTBACK GUARANTEE)

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CHEESEBURGER IN PARADISE (OUTBACK GUARANTEE)

5924 West Saginaw Highway, Lansing, MI 48917

N/A

10,950 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
10,950 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Investment
Cap Rate:
5.50%
Occupancy:
100%
No. Stories:
1
Tenancy:
Single
Year Built:
2005
Lot Size:
1.58 AC
Listing ID
14901466
Last Updated
over 1 year ago

Highlights

  • Absolute Triple Net (NNN) Ground Lease
  • 10 Percent Increases Every Five (5) Years
  • Four (4), Five (5) Year Renewal Options
  • New 2005 Construction
  • Lease Guaranteed by Outback Steakhouse, Inc.
  • Neighbor to the 19 Acre Lansing Mall

Description

Cheeseburger in Paradise is located at 5924 West Saginaw Highway in Lansing, Michigan. The subject is a 10,950 +/- square foot, single-tenant restaurant building on approximately 68,476 +/- square feet or 1.572 acres of land with excellent frontage along West Saginaw Highway (US-43), the major east-west artery across Lansing.

The subject property is located in a high volume retail area with several power centers surrounding the site and the 19 acre Lansing Mall located directly to the east of the property. The major retailers that make up the power centers include: Target, TJ Maxx, Bed Bath & Beyond, Kohl's, Babies R' Us, and Outback Steakhouse. The Lansing Mall is home to 100 retail stores and four (4) anchor tenants including, JCPenney, Best Buy, Marshall Field's and Younkers. The single-level, enclosed regional shopping center has recently completed a $30 million total mall renovation which includes, German limestone floor tile, skylights, a remodeled and expanded food court, and an upgraded mall exterior with improved landscaping and entrances.

Cheeseburger in Paradise is superbly located on the west side of Lansing, in Delta Township. Delta Township continues to be one of the fastest growing industrial areas in the state of Michigan. Lansing is home to two General Motors facilities, with the third plant to open this year, creating 7,000 new jobs and a housing boom to the area.

Map of 5924 West Saginaw Highway, Lansing, MI 48917 (Eaton County)

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