Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    86 14 Mile Rd Troy, MI 48083

    Sponsored
    For Sale
    $3,739,131

    8,329 SF Restaurant, 5.75% Cap Rate

    Property size:
    8,329 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    398
    This exceptional investment opportunity presents a brand-new, 8,329-square-foot Longhorn Steakhouse located at 86 W 14 Mile Rd, Troy, MI 48083. Built in 2022, this single-tenant property boasts an absolute NNN lease with Darden Restaurants (NYSE: DRI), the world's largest full-service restaurant company. The lease commenced September 1, 2022, and includes a 5.75% cap rate and a strong NOI of $215,000. The asking price is $3,739,131, translating to $448.93 per square foot. This high-profile location is situated as an outlot to the Oakland Mall, a 1.5 million-square-foot shopping center anchored by major retailers like Macy's, JCPenney, and Dick's Sporting Goods. The property benefits from excellent visibility and accessibility, being directly on the corner of 14 Mile Road (43,300 vehicles per day) and John R Road (19,860 vehicles per day), with convenient access to I-75. The surrounding area features numerous other national retailers, ensuring high traffic and strong consumer demographics. The lease includes a 10% rent increase every five years, providing significant long-term value appreciation. This is a rare opportunity to acquire a newly constructed, high-performing restaurant property with a blue-chip tenant in a prime retail location.

    Property Features for 86 14 Mile Rd

    General Information

    Property type
    Restaurants
    Square Feet
    8,329 SF

    Building Details

    Year Built
    2022

    HighLights

    • Absolute NNN ground lease with zero landlord responsibilities.
    • New construction, 8,329 square foot Longhorn Steakhouse built in 2022.
    • Corporate lease with Darden Restaurants (NYSE: DRI), the world's largest full‑service restaurant company.
    • High‑profile location: Outlot to Oakland Mall (1.5M SF), anchored by Macy's, JCPenney, and Dick's Sporting Goods, with strong surrounding retail.
    • Excellent visibility and accessibility: Corner of 14 Mile Road (43,300 VPD) and John R Road (19,860 VPD), with I‑75 access.
    • 10% rent increase every five years; $3,739,131 asking price ($448.93/SF); $215,000 NOI; 5.75% cap rate.
    Property Profile Location Intelligence

    Current Use by Public Records

    LongHorn Steakhouse Steak House

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Building Supply Wholesale Shop Hair Salon Auto Repair Shop Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Troy
    County
    Oakland
    State
    Michigan
    Longitude
    -83.1078014
    Latitude
    42.5347889

    Nearby Similar for Sale

    • $495,000
      1,937 SF

      Renovated Office Building in Troy

      Meticulously renovated office building with prime location and luxury finishes.
      305 E Maple Rd, Troy, MI 48083
      View Details
    • $294,900
      2,047 SF

      Savvy Sliders Franchise Opportunity

      Turnkey Savvy Sliders franchise for sale with growth potential.
      1434 W Big Beaver Rd, Troy, MI 48084
      View Details
    • $328,000
      1,457 SF

      Upgraded Condo in Prime Location

      Recently upgraded 2-bedroom condo with modern amenities in Troy, MI.
      1128 Alameda Blvd, Troy, MI 48085
      View Details
    • $328,000
      1,457 SF

      Upgraded Condo in Prime Location

      Recently upgraded 2-bedroom condo with modern amenities and convenient location.
      1128 Alameda Blvd, Troy, MI 48085
      View Details
    • Contact for pricing
      425,192 SF

      Troy Technology Park Portfolio

      High-quality flex/office portfolio in Troy's technology hub.
      1835 Ring Dr, Troy, MI 48083
      View Details
    • Contact for pricing
      391 SF

      Dynamic Power Centers in Troy

      Power centers with upgrades and restaurant opportunity in Troy, MI.
      500-740 John R Rd, Troy, MI 48083
      View Details
    • Contact for pricing

      77-Acre Mixed-Use Development

      Mixed-use development with retail and residential in Troy, Michigan.
      1325-1345 Coolidge Hwy, Troy, MI 48084
      View Details
    • $235,000
      1,787 SF

      Updated Ranch Condo with Basement

      Updated 2-bedroom ranch condo with finished basement, ready to move in.
      2877 Roundtree Dr, Troy, MI 48083
      View Details
    • $69,000

      Established Salon and Jewelry Store

      Fully equipped salon and jewelry store with established client database.
      6451 Rochester Rd, Troy, MI 48085
      View Details
    • Contact for pricing
      34 SF

      High-Visibility Shopping Center For Sale

      High-traffic shopping center with updated storefronts and strong demographics.
      3614-3640 Rochester Rd, Troy, MI 48083
      View Details
    • Contact for pricing
      19,280 SF

      Colonial Style Building on Rochester

      Newer construction building with private entrances and prominent signage.
      6535-6585 Rochester Rd, Troy, MI 48085
      View Details
    • $1,495,000
      9,173 SF

      Versatile Office Building For Sale

      Single-story office building with flexible space, convenient parking, and accessibility.
      Troy, MI 48098
      View Details

    FAQs

    What type of property is this?
    Restaurant - 8,329 SF Restaurant, 5.75% Cap Rate
    Where is this restaurant located?
    The property is located at 86 14 Mile Rd Troy, MI.
    What is the asking price?
    The asking price for this property is $3,739,131.
    What are key features of this property?
    This property features: Absolute NNN ground lease with zero landlord responsibilities.; New construction, 8,329 square foot Longhorn Steakhouse built in 2022.; Corporate lease with Darden Restaurants (NYSE: DRI), the world's largest full-service restaurant company.
    Request Owner's contact information
    86 14 Mile Rd Troy, MI 48083
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    86 14 Mile Rd
    Troy, MI 48083
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    86 14 Mile Rd Troy, MI 48083
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.