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Views: 142 DOM: 562 Updated: 10.10.24 Posted: 05.09.23 Status: Active

Summary

Price $3,205,330
Built/Renov 2002
Tenant Carrabba's Italian Grill
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 6,511
Lease Start 03-14-2012
#Units 217
Price/SF $492.29
Expiration 03-31-2032
Tenant Type Casual Dining
NOI $224,373
R. Term 7.4
Ownership Fee Simple
Rent/SF $33.87
Increases 0.0%/1/yrs
Pop 5Mi 224,689
Lot/AC 1.98
Options 4/5yrs/1.75%
AHHI 5Mi $109,867

Lease Highlights

  • Carrabba’s Italian Grill has been operating in this location since 2012
  • Tenant has 7+ years remaining on the current lease term with 4 (5-year) options to extend
  • Lease features 1.75% annual rental increases throughout the initial term
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee by Bloomin' Brands (NASDAQ: BLMN)

Location Description

The subject property is strategically located along North Haggerty Road (16,259 VPD), a quarter mile south of its intersection with Ford Road (39,614 VPD) and less than a mile from Interstate 275 (123,732 VPD). The Carrabba’s property is adjacent to Lifetime Fitness, Hampton Inn (90 rooms), and Extended Stay America (104 Rooms) increasing consumer draw to the immediate trade area. The site...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Carrabba's Italian Grill (or simply Carrabba’s) is an American restaurant chain featuring Italian-American cuisine, and is the second largest Italian themed restaurant chain in the United...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,776 97,395 221,341
2023 Total Population : 9,933 99,099 224,397
2023 Employed Civilian Pop : 5,213 51,543 114,652
2023 Total Businesses : 334 2,794 6,751
2023 Average Household Income : $ 98,737 $ 109,084 $ 112,626
2023 Total Consumer Spending : $ 350 M $ 3855 M $ 9036 M
2023 Median Age : 39 40 41
2023 Total Households : 4,101 41,070 93,130
2023 Pop Age 25+: Bachelor's Degree : 2,176 19,908 41,294
2023 Average Home Value : $ 254,046 $ 261,382 $ 272,354
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
E M 153 AND S I 275 Ford Rd 2021 6,048 0.10 mi
Ford Road Haggerty Rd 2019 43,150 0.22 mi
100 FEET SOUTH OF M-153 FORD ROAD CANTON TOWNSHIP Heathmore Ct 2021 22,837 0.22 mi
MI?1153 Haggerty Rd 2021 39,235 0.24 mi
Ford Rd I- 275 2010 45,396 0.24 mi
Haggerty Rd Maplewood Dr 2007 20,865 0.25 mi
N I 275 AND M 153 I- 275 2021 10,631 0.25 mi
M 153 Haggerty Rd 2021 32,144 0.26 mi
M I- 275 2021 37,257 0.26 mi
100 FEET NORTH OF M-153 FORD ROAD CANTON TOWNSHIP Ford Rd 2021 17,819 0.27 mi

Listing Broker

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