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27760 Novi Rd
Novi, MI 48377

Red Lobster · Retail Property For Sale

INVESTMENT HIGHLIGHTS

  • Property is subject to a 25 year triple-net (NNN) lease with 20 years remaining
  • Strong inflation hedge | Attractive 2.0% annual increases
  • World’s largest seafood restaurant | Serving customers in 11 countries
  • Corporate guarantee | 704 locations in the US & Canada
  • Four (4), five (5)-year tenant renewal options

PROPERTY FACTS

Property Type
Retail
Property Subtype
Restaurant
Building Size
8,290 SF
Building Class
B
Year Built/Renovated
1983/2013
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
2.81 AC
Zoning
R-C
Frontage
317 FT on Novi Rd

AMENITIES

  • Corner Lot
  • Dedicated Turn Lane
  • Pylon Sign
  • Restaurant
  • Signage
  • Signalized Intersection

ABOUT 27760 NOVI RD , NOVI, MI 48377

This Red Lobster is located at 27760 Novi Road in Novi, Michigan. Novi is a city in Oakland County. Located in eastern Michigan, Novi is located 25 miles northeast of Ann Arbor and 25 miles northwest of Detroit, the largest city in Michigan. Surrounding Retail and Points of Interest The subject property is well-positioned in a dense retail corridor, benefiting from its proximity to major national and local retailers including the Twelve Oaks Mall and Novi Town Center. Major tenants in the immediate vicinity include: Walmart Supercenter, Kohl’s, Old Navy, Marshalls, Big Lots, Macy’s, Lord & Taylor, and Nordstrom among various others. There are six schools less than two miles from the subject property: four elementary schools, and two high schools. These six schools have current total enrollment over 3900 students. Three miles away is Providence--Providence Park Hospital, which has a total amount of 200 beds. Detroit is the county seat of Wayne County, Michigan as well as the largest city in the state. Detroit’s economy is primarily in the automobile industry, with companies such as General Motors and Ford Motor Company being the top employers, as well as having several factories in the area. Many other large companies are based in Detroit, such as Little Caesars, Quicken Loans, and Ally Financial just to name a few. Wayne State University is also found within the city with a total enrollment of nearly 30,000 students.

PROPERTY TAXES

  • Listing ID: 15229281

  • Date on Market: 2/20/2019

  • Last Updated:

  • Address: 27760 Novi Rd, Novi, MI 48377