Carrabba's Italian Grill: Canton, MI | 1900 N Haggerty Rd
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Carrabba's Italian Grill: Canton, MI 1900 N Haggerty Rd
6,477 SF Retail Building Canton, MI 48187 $3,433,000 ($530/SF) 6.65% Cap Rate
Investment Highlights
- NNN lease features ±7.3 years of primary term remaining, four 5-year renewal options and a corporate guaranty from Bloomin’ Brands, Inc
- Long operating history with strong store sales. Since 2019, sales have increased 18%.
- Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7x the CPI increase.
Executive Summary
The CBRE Net lease Property Group is pleased to exclusively offer for sale the 6,511-square-foot Carrabba’s Italian Grill situated on 1.98 acres in Canton, MI—a component of the Detroit-Warren-Dearborn, MI MSA (Population: 4.4 Million). Carrabba’s absolute NNN lease features ±7.3 years of primary term remaining, four 5-year renewal options, and a corporate guaranty from Bloomin’ Brands, Inc. Each year, rent increases by the lesser of (i) 1.75% or (ii) 1.7 times the CPI increase. This store boasts a long operating history with strong store sales. Since 2019, sales have increased 18%.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,477 SF
Building Class
B
Year Built
2002
Price
$3,433,000
Price Per SF
$530
Cap Rate
6.65%
NOI
$228,300
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
15.88 AC
Zoning
C-4 - Commercial
Parking
146 Spaces (22.54 Spaces per 1,000 SF Leased)
Amenities
- Freeway Visibility
- Signage
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 71-050-01-0002-000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $689,100 |
PROPERTY TAXES
Parcel Number
71-050-01-0002-000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$689,100
Contacts
-
Christopher Bosworth -
Brian Pfohl -
Thomas Carr -
Leah Lindell -
Abby Kelly -
Kaitlyn Wolf -
Anne Rahm -
CBRE, Inc.
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Carrabba's Italian Grill: Canton, MI | 1900 N Haggerty Rd
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