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Views: 112 DOM: 181 Updated: 10.30.24 Posted: 06.24.24 Status: Active 06.24.24

Summary

Price $1,525,000
Built/Renov 1998
Tenant McDonald's (GL)
Cap Rate 4.82%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,784
Lease Start 02-02-1997
#Units 43,000
Price/SF $547.77
Expiration 10-31-2031
Tenant Type Fast Food/QSR
NOI $73,504
R. Term 6.10
Ownership Ground Lease
Rent/SF $26.40
Increases 5.0%/2/yrs
Pop 5Mi 302,581
Lot/AC 1.05
Options 1/5yrs
AHHI 5Mi $100,281

Lease Highlights

  • McDonald’s has been operating in this location for 25+ years
  • The tenant has 7+ years remaining on its current term with 1 (5-year) option to extend
  • The lease features a 5% rental increase in 2026 | FMV increase in the last option period
  • Absolute NNN ground lease | Zero landlord responsibilities
  • Corporate guaranteed | Investment grade tenant (S&P: BBB+)

Location Description

The subject property is strategically located on the east side Stephenson Highway (25,500+ VPD), just south of W. 14 Mile Rd. which sees an estimated traffic count exceeding 50k+ vehicles passing by daily. Surrounding tenants include T-Mobile, Hobby Lobby, Oakland Mall, Hampton Inn, Rodeway Inn, and Bishop Foley High School, creating a strong consumer drive to the site as well as a built-in...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: McDonald's
  • Guarantor:Corp T and Rated
  • Company:McDonald's Corporation
  • # Units:43,000
  • Tenant S&P: BBB+
  • Moody’s: Baa1
  • Stock: NYSE: MCD

About Tenant

McDonald's Corporation, dba McDonald’s, is an American-based, multinational fast food chain. McDonald's is best known for its hamburgers, cheeseburgers, and french fries, although their...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,073 109,112 307,343
2023 Total Population : 9,141 110,057 307,982
2023 Employed Civilian Pop : 5,347 60,459 166,030
2023 Total Businesses : 913 6,308 15,493
2023 Average Household Income : $ 88,054 $ 102,598 $ 115,092
2023 Total Consumer Spending : $ 364 M $ 4396 M $ 13175 M
2023 Median Age : 42 42 42
2023 Total Households : 4,753 49,615 133,212
2023 Pop Age 25+: Bachelor's Degree : 2,665 24,754 67,893
2023 Average Home Value : $ 251,950 $ 289,850 $ 317,713
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Stephenson Hwy W 14 Mile Rd 2015 31,009 0.05 mi
W 14 Mile Rd Stephenson Hwy 2015 37,990 0.06 mi
East 14 Mile Road Stephenson Hwy 2019 7,231 0.11 mi
Stephenson Hwy W 14 Mile Rd 2015 34,588 0.12 mi
I- 75 W 14 Mile Rd 2018 7,267 0.15 mi
Stephenson Highway Stephenson Hwy 2022 21,382 0.16 mi
W 14 Mile Rd Lyons Dr 2015 34,090 0.16 mi
W 14 Mile Rd I- 75 2015 33,182 0.18 mi
Walter P. Chrysler Freeway 2018 20,166 0.20 mi
W 14 Mile Rd 2022 18,518 0.23 mi

Listing Broker

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