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Views: 115 DOM: 400 Updated: 10.31.24 Posted: 10.21.23 Status: Active 10.06.24

Summary

Price $250,000
Built/Renov 1973
Tenant Subway
Cap Rate 6.86%
Lease Type NN+
Guarantor Corporate
Size/SF 1,828
Lease Start 12-13-2002
#Units 37,000
Price/SF $136.76
Expiration 03-31-2025
Tenant Type Fast Food/QSR
NOI $17,150
R. Term 0.4
Ownership Fee Simple
Rent/SF $9.38
Increases 10.0%/2/yrs
Pop 5Mi 390,187
Lot/AC 0.24
Options 3/5yrs/10%
AHHI 5Mi $56,772

Lease Highlights

  • Subway has been operating in this location for 20+ years
  • Tenant has 1+ years remaining on its current lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases in each option period
  • Favorable NN+ lease with landlord responsible for taxes & insurance
  • Above average store sales | Speak with Agent for details
  • Corporate guaranteed lease

Location Description

Subway is conveniently situated along Plymouth Road, with a daily traffic count of 11,767 vehicles. The property's strategic location is further enhanced by its proximity to the Southfield Freeway, which sees a high traffic count of 136,685 vehicles. National tenants such as Family Dollar, Dollar Tree, Walgreens, Aldi, and others in the vicinity draw a substantial number of...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Subway
  • Guarantor:Corporate
  • Company:Subway Restaurants, Inc.
  • # Units:37,000
  • Stock:Private

About Tenant

Subway is an American multinational fast food restaurant franchise that primarily sells submarine sandwiches (subs), wraps, salads and beverages, and is known for their motto “Eat Fresh”. Subway...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 12,690 135,546 391,145
2023 Total Population : 12,879 137,310 396,189
2023 Employed Civilian Pop : 4,677 50,812 150,688
2023 Total Businesses : 292 2,577 9,046
2023 Average Household Income : $ 49,260 $ 57,543 $ 65,497
2023 Total Consumer Spending : $ 222 M $ 2599 M $ 8501 M
2023 Median Age : 36 36 38
2023 Total Households : 5,114 51,281 147,754
2023 Pop Age 25+: Bachelor's Degree : 662 9,433 35,821
2023 Average Home Value : $ 83,411 $ 146,429 $ 169,893
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Evergreen Ave Wadsworth Ave 2011 26,000 0.14 mi
Plymouth Road Plainview Ave 2022 11,779 0.15 mi
Plymouth Rd Grandville Ave 2010 10,050 0.18 mi
Minock Street Wadsworth Ave 2022 127 0.20 mi
Wadsworth Avenue Minock St 2022 341 0.20 mi
Capitol St AND Wadsworth St Capitol Ave 2021 19,308 0.25 mi
Evergreen Road W Warren Ave 2022 12,452 0.25 mi
Fielding Street Elmira St 2022 872 0.38 mi
Elmira Street Fielding St 2022 353 0.38 mi
Braile Street 2019 1,030 0.50 mi

Listing Broker

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