Red Robin | Strong Guarantor 6524 W Saginaw Hwy 6,893 SF Retail Building Lansing, MI 48917 £1,545,249 (£224.18/SF) 7.50% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Strong Operator/Guarantor | Excellent Sales | Sub 4.5% Rent-To-Sales
- Outparcel To Kohl’s and Kroger | Excellent Retail Corridor With Strong National/Credit Tenant Presence
- Strong Demographics In 5-Mile Trade
- NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities
- Less Than 1.5 Miles From The Marketplace At Delta Crossing Development
EXECUTIVE SUMMARY
• The tenant is performing extremely well at the location, operating at a sub 4.5% rent-to-sales ratio
• The tenant Ansara Restaurant Group (20+ locations), has approximately 3.5 years remaining on its lease with 3 (5-year) options to extend
• The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation
• The franchisee operates over 20 Red Robin locations, as well as 9 locations across Twin Peaks, Portofino, Burgrz, and 2Booli
• The tenant Ansara Restaurant Group (20+ locations), has approximately 3.5 years remaining on its lease with 3 (5-year) options to extend
• The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation
• The franchisee operates over 20 Red Robin locations, as well as 9 locations across Twin Peaks, Portofino, Burgrz, and 2Booli
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,893 SF
Building Class
C
Year Built
2003
Price
£1,545,249
Price Per SF
£224.18
Net Initial Yield
7.50%
NOI
£115,879
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Lot Size
2.56 AC
Zoning
NONE
Parking
170 Spaces (24.66 Spaces per 1,000 SF Leased)
Frontage
350 ft on W Saginaw Hwy
AMENITIES
- Restaurant
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 040-010-400-056-00 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £641,994 |
