Bubba's 33
For Sale
Contact for pricing
720 Brown Road, Auburn Hills, MI 48326
Texas Roadhouse-backed restaurant with a new 15-year absolute net lease.
Property Size7,163 SF
Price / SF$376.94
Days on Market20
Property Features for 720 Brown Road
General Information
Standard status
Active
Size
7,163 SF
Property subtype
Retail
Zoning
B-2, General Business District
Occupancy
100%
Lease Type
Absolute Net
Net Operating Income
$135,000
Additional Details
Traffic Count
96,726 vehicles/day
Building Details
Year Built
2002
Year Renovated
2026
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Landmark Commercial Real Estate Services
(248) 488-2620
Listed By:
Max Lippitt · License #MI 6501395927
Source:
Crexi
Added: Aug 12
Changed: Aug 29
Last Checked: Aug 31 at 6:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Landmark Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This conventional restaurant property is located within the Auburn Mile Shopping Center and is configured as a pad site serving the surrounding retail environment. The building contains 7,163 square feet and was constructed in 2002. A renovation is underway, with a Fall 2026 opening planned for the Bubba's 33 concept. The lease is structured as a new 15-year absolute net agreement backed by Texas Roadhouse, Inc.
The property is positioned near Meijer, Target, Costco, Sam's Club, Top Golf, Menards, and Home Depot, with adjacency to Great Lakes Crossing Outlets. Direct visibility from I-75 and reported traffic of 96,726 CPD provide additional exposure. The site is zoned B-2, General Business District.
The property is positioned near Meijer, Target, Costco, Sam's Club, Top Golf, Menards, and Home Depot, with adjacency to Great Lakes Crossing Outlets. Direct visibility from I-75 and reported traffic of 96,726 CPD provide additional exposure. The site is zoned B-2, General Business District.
Key Highlights
- 7,163‑square‑foot conventional restaurant property
- New 15‑year absolute net lease backed by Texas Roadhouse, Inc.
- Renovation underway ahead of a Fall 2026 opening
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$108,150
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,163,000
$2.2M
Cap Rate 7%
$1,545,000
$1.5M
Cap Rate 9%
$1,201,667
$1.2M
Market Conditions
NOI Build-Up for 7,163 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$154.7K $21.60/SF
− Vacancy
−$10.5K −$1.47/SF
EGI
$144.2K $20.13/SF
− OpEx
−$36.0K −$5.03/SF
NOI
$108.1K $15.10/SF
Area
Oakland County, MI
Vacancy
6.80%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,163,000
Cap Rate 7%
$1,545,000
Cap Rate 9%
$1,201,667
Alternative Uses
Best Use
Specialty Retail
$1.54M
$1.35M – $1.80M
NOI $108,150 @ 7.0% cap · market cap 4.01%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
96,726 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
311
Businesses Nearby
636k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 36%
Groceries 19%
Shops & Services 15%
Dining 13%
Costco Wholesale
Superstores
132,028 visits/mo
0.5 miles
Meijer
Groceries
120,799 visits/mo
0.0 miles
Sam's Club
Superstores
98,259 visits/mo
0.3 miles
Topgolf
Leisure
70,745 visits/mo
0.3 miles
Sam's Club Gas Station
Shops & Services
39,140 visits/mo
0.2 miles
Demographics for 48326, MI
22,228
Population
12,219
Households
1.8
Avg Household Size
36
Median Age
47%
College-Educated
93%
High-School Grad
16.9 sq mi
ZIP Area
1,315
Density / Sq Mi
$79,468
Median Household Income
$46,012
Median Earnings
$1,411
Median Rent
$235,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Texas Roadhouse-backed restaurant with a new 15-year absolute net lease.
Where is this conventional restaurant located?
The property is located at 720 Brown Road Auburn Hills, MI.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 7,163‑square‑foot conventional restaurant property; New 15‑year absolute net lease backed by Texas Roadhouse, Inc.; Renovation underway ahead of a Fall 2026 opening
