424 12 Mile RdMadison Heights, MI 48071

Property Details for 424 12 Mile Rd

Year built

2024

Lot size

0.82 AC

Property size (Sq ft)

2,387 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a brand-new, 2024-built Chipotle restaurant in Madison Heights, Michigan. Boasting a 15-year absolute NNN lease with a corporate guarantee from Chipotle Mexican Grill (NYSE: CMG), this property offers significant long-term stability and predictable income. The 2,387 square foot building features a high-capacity drive-thru, maximizing operational efficiency and revenue potential. Located on Twelve Mile Road, a major commercial thoroughfare with over 30,000 vehicles per day, and less than 2000 feet from I-75, the property benefits from exceptional visibility and accessibility. The 0.82-acre lot is situated in a thriving retail area anchored by Lowe's and Home Depot, ensuring a strong customer base. The lease includes attractive 10% rent increases every five years, providing built-in yield growth. With a current NOI of $149,000 and a 5.25% cap rate, this property represents a compelling investment opportunity in a high-growth market. The strong demographics of Madison Heights, with nearly 120,000 residents within 3 miles, further enhance the investment's appeal. This is a truly hands-off investment, with the tenant responsible for all maintenance, taxes, and insurance. The property's prime location, strong tenant, and favorable lease terms make it an ideal addition to any portfolio. The asking price is $2,838,000, with a price per square foot of $1,189. The property's APN is 2511476025.

Location Insight

City

Madison Heights

County

Oakland

State

Michigan

Latitude

42.505

Longitude

-83.1098

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