28639 Wixom Rd Wixom, MI 48393-3411
- Turn key restaurants
- 8,025 SF
Sep 05, 2025
Current Use by Public Records
- LongHorn Steakhouse / Steak House / Bar & Grill
Property Details for 28639 Wixom Rd
- Year built
- 2021
- Property size
- 8,025 SF
- Property type
- Turn key restaurants
- APN
- 96-22-07-200-021
- APU
- 962207200021
Description
This exceptional investment opportunity presents a brand-new, 5,660 square foot Longhorn Steakhouse, built in 2022, situated on a 1.82-acre lot in Wixom, Michigan. The property boasts an absolute NNN lease with a corporate guarantee from Darden Restaurants (S&P: BBB), providing significant financial security. The lease commenced April 1, 2022, and has a remaining term of 7.4 years, extending to March 31, 2032, with no tenant termination options. The property enjoys a prime location with excellent visibility and accessibility, benefiting from its proximity to I-96, a major thoroughfare with approximately 222,000 combined vehicles per day. This high-traffic area is further enhanced by its position in a dynamic retail corridor anchored by Twelve Oaks Mall and surrounded by a high-density, high-growth demographic. The property's strong location is complemented by its proximity to an employment hub, with 15 million square feet of office and industrial space within a two-mile radius. The current Net Operating Income (NOI) is $165,000, representing a 6.00% cap rate on the asking price of $2,750,000 ($485.87 per square foot). This is a rare opportunity to acquire a high-quality, net-leased property with a strong tenant and significant long-term growth potential within the Detroit MSA, a top U.S. market for home price appreciation. 100% occupancy ensures immediate cash flow.
Value Estimation
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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
- -83.537
- Latitude
- 42.5015
- CBSA code
- 19820
- CBSA name
- DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA
