Current Use by Public Records
- Chipotle Mexican Grill / Restaurant
Property Details for 28703 Wixom Rd
- Year built
- 2023
- Lot size
- 1.36 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Restaurants
Description
This exceptional investment opportunity presents a brand-new, 2,400 square foot Chipotle restaurant located at 28703 Wixom Rd, Wixom, MI 48393. Built in 2023, this Class A property sits on a 1.36-acre lot and boasts 60 parking spaces, ensuring ample customer convenience. The property benefits from a 12-year net lease (NN+) with a corporate guarantee from Chipotle, providing financial stability and minimal landlord responsibilities. The lease commenced September 18, 2023, and has a remaining term of 10.8 years, extending to September 17, 2035. The property features a Chipotle Chipotlane concept, known for driving higher sales. With a 100% occupancy rate, the property generates a strong net operating income (NOI) of $145,000, resulting in a 5.50% cap rate. The asking price is $2,640,000, translating to $1,100 per square foot. This prime location within the dynamic retail corridor of Twelve Oaks Mall, near I-96, benefits from high-density demographics and significant traffic volume (approximately 222,000 combined vehicles per day). The property is also situated within an employment hub, with 15 million square feet of office and industrial properties within a two-mile radius. Furthermore, the property includes a 20-year roof warranty and a 1-year building warranty, providing additional peace of mind. This is a truly hands-off investment opportunity in a top U.S. market for home price growth, within the Detroit MSA.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Wixom
- County
- Oakland
- State
- Michigan
- Longitude
- -83.5366
- Latitude
- 42.5046
