1900 Haggerty RdCanton, MI 48187

Property Details for 1900 Haggerty Rd

Year built

2002

Property size (Sq ft)

6,477 SF

Zone code

C-4

Property type

Turn key restaurants

APN

71 050 01 0002 000

APU

71050010002000

Description

This exceptional investment opportunity presents a 6,511-square-foot Carrabba's Italian Grill located at 1900 N Haggerty Rd, Canton, MI 48187, within the Detroit-Warren-Dearborn MSA. The property sits on a 1.98-acre lot and boasts a strong operating history, with sales increasing 18% since 2019. The property is offered at $3,205,330, representing a 7.00% cap rate and a NOI of $224,373. The absolute NNN lease with Carrabba's Italian Grill has approximately 7.4 years remaining on the primary term, providing significant lease stability. Four 5-year renewal options further enhance the long-term investment potential. The lease includes annual rent bumps, calculated as the lesser of 1.30 times the CPI increase or 10%. Built in 2002, this well-established restaurant benefits from a corporate guaranty from Bloomin' Brands, Inc., mitigating risk and ensuring consistent income. This is a rare opportunity to acquire a high-performing restaurant property with a proven track record and substantial future growth potential in a thriving market. The property's location in Canton, Michigan offers excellent visibility and accessibility, contributing to its consistent success. This offering presents a compelling investment opportunity for discerning buyers seeking a stable, high-yield asset with significant long-term upside.

• CAP approach

  CAP return

  Valuation

  6%

  $1,629,913

  6.5%

  $1,504,535

  7%

  $1,397,068

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,526,764

  Geo Method

  $1,526,764

• Alternative Use

  Use

  Valuation

  Residential

  $1,269,132

  Hospitality

  $1,162,518

  Educational

  $967,201

  Medical

  $1,000,465

  Retail

  $1,504,535

Location Insight

City

Canton

County

Wayne

State

Michigan

Latitude

42.3199

Longitude

-83.4466

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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