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Applebees 455 Haggerty Rd 5,182 SF Retail Building Walled Lake, MI 48390 $3,607,742 ($696.21/SF) 7% Cap Rate
Investment Highlights
- Absolute (NNN) Lease | No Landlord Obligations - Location has Been an Applebee's Since 1997 Construction
- Lease is Equipped with 10% Rental Escalations in Each Option Period Providing Investors with a Strong Hedge Against Inflation
- Extremely Dense Residential Infill | 168,200+ People Reside within a 5 Mile Radius
- Outparcel to Target & Home Depot - Target Undergoing Full Interior and Exterior Remodel
- 5,182 Square Foot Building on a 1.56 Acre Lot - Easily Retenantable Footprint
- Household Income within a 1 Mile Radius: $143,900- Phenomenal Demographics
Executive Summary
Absolute (NNN) Lease | No Landlord Obligations - Location has Been an Applebee's Since 1997 Construction
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,182 SF
Building Class
B
Year Built/Renovated
1997/2001
Price
$3,607,742
Price Per SF
$696.21
Cap Rate
7%
NOI
$252,542
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
1.56 AC
Zoning
BV
Parking
84 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
214’ on Haggerty Rd
Amenities
- Signage
- Signalized Intersection
Nearby Major Retailers
Property Taxes
| Parcel Number | 17-36-400-020 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,035,940 |
Property Taxes
Parcel Number
17-36-400-020
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$1,035,940
Contacts
-
Deno Bistolarides -
Brandon Hanna -
Marcel Pearl -
Encore Real Estate Investment Services
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Applebees | 455 Haggerty Rd
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