- New 2021 Construction: Subject property is a former Denny’s and undergoing a complete remodel. Virtually all aspects of the building are being replaced including a new roof and parking lot. Both tenants are expected to open for business in December 2021.
- Long-Term Tenancy: Tenants are under new 10-year leases, providing long-term stable cash flow.
- Expanding Tenants: Detroit Wing Company is one of the area’s fastest growing restaurant concepts with 17+ locations planned to be open by the end of the year and 40-50 locations projected to be open by the end of 2022. MattressFirm has been aggressively expanding in the Midwest as of late with dozens of locations expected to open before year’s end.
- Attractive Leverage Returns: The current capital markets will give investors different options to achieve attractive leveraged yields.
- Excellent Retail Corridor/Visibility: Subject building lies within the heart of one of Metro Detroit’s largest retail corridors and is surrounded by national tenants such as Sam’s Club, Kroger (2 locations), Meijer, Home Depot, At Home, Hobby Lobby, Burlington, Old Navy, Five Below, etc. The development has a dedicated curb cut on Gratiot Ave (47,349 CPD), one of the area’s primary north/south roads.
- High Density Demographics: There are an estimated 258,000 people within a 5 mile radius and average HH income is estimated at $75,000.