28703 Wixom RdWixom, MI 48393

Property Details for 28703 Wixom Rd

Year built

2023

Lot size

1.36 AC

Property size (Sq ft)

2,400 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional investment opportunity presents a brand-new, 2,400 square foot Chipotle restaurant located at 28703 Wixom Rd, Wixom, MI 48393. Built in 2023, this Class A property sits on a 1.36-acre lot and boasts 60 parking spaces, ensuring ample customer convenience. The property benefits from a 12-year net lease (NN+) with a corporate guarantee from Chipotle, providing financial stability and minimal landlord responsibilities. The lease commenced September 18, 2023, and has a remaining term of 10.8 years, extending to September 17, 2035. The property features a Chipotle Chipotlane concept, known for driving higher sales. With a 100% occupancy rate, the property generates a strong net operating income (NOI) of $145,000, resulting in a 5.50% cap rate. The asking price is $2,640,000, translating to $1,100 per square foot. This prime location within the dynamic retail corridor of Twelve Oaks Mall, near I-96, benefits from high-density demographics and significant traffic volume (approximately 222,000 combined vehicles per day). The property is also situated within an employment hub, with 15 million square feet of office and industrial properties within a two-mile radius. Furthermore, the property includes a 20-year roof warranty and a 1-year building warranty, providing additional peace of mind. This is a truly hands-off investment opportunity in a top U.S. market for home price growth, within the Detroit MSA.

Location Insight

City

Wixom

County

Oakland

State

Michigan

Latitude

42.5046

Longitude

-83.5366

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