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Carrabba's Italian Grill: Canton, MI 1900 N Haggerty Rd 6,477 SF Retail Building Canton, MI 48187 $4,792,193 CAD ($739.88 CAD/SF) 6.65% Cap Rate
INVESTMENT HIGHLIGHTS
- NNN lease features ±6.5 years of primary term remaining, four 5-year renewal options and a corporate guaranty from Bloomin’ Brands, Inc
- Long operating history with strong store sales. Since 2019, sales have increased 18%.
- Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7x the CPI increase.
EXECUTIVE SUMMARY
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%.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,477 SF
Building Class
B
Year Built
2002
Price
$4,792,193 CAD
Price Per SF
$739.88 CAD
Cap Rate
6.65%
NOI
$318,689 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
15.88 AC
Zoning
C-4 - Commercial
Parking
146 Spaces (22.54 Spaces per 1,000 SF Leased)
AMENITIES
- Freeway Visibility
- Signage
- Air Conditioning
NEARBY MAJOR RETAILERS
CONTACTS
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Leah Lindell -
Abby Kelly -
Kaitlyn Wolf -
Anne Rahm -
CBRE, Inc.
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Carrabba's Italian Grill: Canton, MI | 1900 N Haggerty Rd
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