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5774 N Wayne Rd
Westland, MI 48185
Red Lobster · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- AFFORDABLE SEAFOOD + CULTURAL ALIGNMENT - Strategically positioned in one of Southeast Michigan’s most aligned trade areas for Red Lobster model
- HIGHLY TRAFFICKED RETAIL HUB - Situated along N Wayne Road (32,000+ VPD) and surrounded by Meijer, Target, Applebee’s, and Walmart
- HIGHLY FUNCTIONAL 1.94-ACRE PARCEL - The 7,582 SF freestanding restaurant sits on nearly 2 acres of land, providing future flexibility & ample parking
- ABSOLUTE NNN WITH ANNUAL BUMPS - Long-term lease with zero landlord responsibilities and 2% annual increases
- BUILT-IN DEMOGRAPHIC BASE - With 250,062 residents within 5 miles this Red Lobster serves a strong trade area where families dine out
EXECUTIVE SUMMARY
RED LOBSTER | ABSOLUTE NNN | WESTLAND, MI
TD Commercial Group is pleased to present the opportunity to acquire a corporately guaranteed Red Lobster in Westland, Michigan.
This property offers investors a true passive net lease backed by one of America’s most iconic dining brands. The absolute NNN lease features zero landlord responsibilities and 2% annual rent increases throughout the base term and options, providing long-term durability with built-in rent growth.
Strategically located along N Wayne Road (32,000+ VPD), the restaurant sits within a dense retail hub anchored by Walmart, Meijer, Target, and Golden Corral. The 7,582 SF building rests on a highly functional 1.94-acre parcel, offering excellent visibility, ample parking, and future re-tenanting flexibility if ever needed.
The surrounding trade area is one of Southeast Michigan’s most stable working-class markets. With 250,000+ residents within 5 miles and a strong base of Ford Motor Company employees from the nearby Michigan Assembly Plant, Red Lobster benefits from consistent lunch and dinner traffic, supported by generational dining loyalty. Families here view Red Lobster as an affordable indulgence — a “go-to” gathering spot that has become culturally ingrained in the community.
This is a rare chance to acquire a long-term, inflation-hedged, passive net lease investment in a proven Southeast Michigan retail corridor.
TD Commercial Group is pleased to present the opportunity to acquire a corporately guaranteed Red Lobster in Westland, Michigan.
This property offers investors a true passive net lease backed by one of America’s most iconic dining brands. The absolute NNN lease features zero landlord responsibilities and 2% annual rent increases throughout the base term and options, providing long-term durability with built-in rent growth.
Strategically located along N Wayne Road (32,000+ VPD), the restaurant sits within a dense retail hub anchored by Walmart, Meijer, Target, and Golden Corral. The 7,582 SF building rests on a highly functional 1.94-acre parcel, offering excellent visibility, ample parking, and future re-tenanting flexibility if ever needed.
The surrounding trade area is one of Southeast Michigan’s most stable working-class markets. With 250,000+ residents within 5 miles and a strong base of Ford Motor Company employees from the nearby Michigan Assembly Plant, Red Lobster benefits from consistent lunch and dinner traffic, supported by generational dining loyalty. Families here view Red Lobster as an affordable indulgence — a “go-to” gathering spot that has become culturally ingrained in the community.
This is a rare chance to acquire a long-term, inflation-hedged, passive net lease investment in a proven Southeast Michigan retail corridor.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,582 SF
Building Class
C
Year Built
1974
Price
$5,810,238 CAD
Price Per SF
$766.32 CAD
Cap Rate
6.77%
NOI
$393,108 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
1.97 AC
Zoning
CM - Commercial (CM) district under the city's new 2025 Zoning Ordinance, which was adopted in October 2024
Parking
139 Spaces (18.33 Spaces per 1,000 SF Leased)
Frontage
243’ on Wayne Rd
AMENITIES
- Bus Line
- Signage
PROPERTY TAXES
| Parcel Number | 56-035-02-0011-000 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $867,524 CAD |
PROPERTY TAXES
Parcel Number
56-035-02-0011-000
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$867,524 CAD
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