1900 N Haggerty Rd, Canton, MI 48187
- Turn key restaurants
- 6,477 SF
Current Use by Public Records
- Carrabba's Italian Grill / Restaurant
Property Details for 1900 N Haggerty Rd
- Year built
- 2002
- Zone code
- C-4
- Property type
- Turn key restaurants
- APN
- 71 050 01 0002 000
- APU
- 71050010002000
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Mar 26, 2012 | — | National Retail Properties LP | Private Restaurant Props LLC | Grant Deed | — |
Description
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.
Value Estimations
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,847,000
- AI Estimate
- $1,847,000
Market price range: $643k - $2.46MMarket price range: $643k - $2.46M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $1,660,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $1,480,000 Change: -11% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Canton
- County
- Wayne
- State
- Michigan
- Longitude
- -83.4466
- Latitude
- 42.3199
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
