Longhorn Steakhouse

LONGHORN STEAKHOUSE (GROUND LEASE)
Wayne County, MI

PRICE $1,530,435
GLA 5,600 SF (500 SF patio & 500 SF service court)
PROPERTY TYPE Retail
CAP RATE 5.75%
LEASE TYPE NNN
LEASE EXPIRATION Mar. 2020
YEAR BUILT 2004
DEMOGRAPHICS
Total Population
1 – mi. – 18,255
3 – mi. – 99,434
5 – mi. – 280,236
More info in the flyer

INVESTMENT HIGHLIGHTS

  • Traffic count of 120,000 vehicles per day.
  • National surrounding retailers include Sears, Kohl’ s, JCPenney, Target, Bed Bath & Beyond, Planet Fitness, Best Buy, Office Max, CVS, Longhorn Steakhouse, Buffalo Wild Wings, Tim Horton’ s, Bank of America and many more.
  • Tenant is in their first option period and has three 5 year options remaining with 10% rent increases at each option renewal
  • Tenant built their property (ground lease) and signed a 10 year lease with four 5 year options

City:Wayne County
State:MI
Square Feet:5,600 SF
Price:$1,530,435
Cap Rate:5.75%

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