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    1900 Haggerty Rd Canton, MI 48187

    For Sale
    $3,205,330

    High-return restaurant investment, strong tenant.

    Property size:
    6,511 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a 6,511-square-foot Carrabba's Italian Grill located at 1900 N Haggerty Rd, Canton, MI 48187, within the Detroit-Warren-Dearborn MSA. The property sits on a 1.98-acre lot and boasts a strong operating history, with sales increasing 18% since 2019. The property is offered at $3,205,330, representing a 7.00% cap rate and a NOI of $224,373. The absolute NNN lease with Carrabba's Italian Grill has approximately 7.4 years remaining on the primary term, providing significant lease stability. Four 5-year renewal options further enhance the long-term investment potential. The lease includes annual rent bumps, calculated as the lesser of 1.30 times the CPI increase or 10%. Built in 2002, this well-established restaurant benefits from a corporate guaranty from Bloomin' Brands, Inc., mitigating risk and ensuring consistent income. This is a rare opportunity to acquire a high-performing restaurant property with a proven track record and substantial future growth potential in a thriving market. The property's location in Canton, Michigan offers excellent visibility and accessibility, contributing to its consistent success. This offering presents a compelling investment opportunity for discerning buyers seeking a stable, high-yield asset with significant long-term upside.

    Property Features for 1900 Haggerty Rd

    General Information

    Property type
    Restaurants
    Square Feet
    6,511 SF
    Lot Size
    86,249 SF

    Building Details

    Year Built
    2002

    HighLights

    • Absolute NNN lease with Carrabba's Italian Grill; ±7.4 years remaining, four 5‑year options, corporate guarantee from Bloomin' Brands, Inc.
    • Annual rent increases: Lesser of 1.3% or 10% based on CPI.
    • Strong sales history: 18% sales increase since 2019.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Carrabba's Italian Grill Italian Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Canton
    County
    Wayne
    State
    Michigan
    Longitude
    -83.445947491707
    Latitude
    42.320042922597

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    FAQs

    What type of property is this?
    Restaurant - High-return restaurant investment, strong tenant.
    Where is this restaurant located?
    The property is located at 1900 Haggerty Rd Canton, MI.
    What is the asking price?
    The asking price for this property is $3,205,330.
    What are key features of this property?
    This property features: Absolute NNN lease with Carrabba's Italian Grill; ±7.4 years remaining, four 5-year options, corporate guarantee from Bloomin' Brands, Inc.; Annual rent increases: Lesser of 1.3% or 10% based on CPI.; Strong sales history: 18% sales increase since 2019.
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    Canton, MI 48187
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    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
    1900 Haggerty Rd Canton, MI 48187
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