28639 Wixom Rd Wixom, MI 48393-3411
Property profile & analytics
28639 Wixom Rd Wixom, MI 48393-3411
- Turn key restaurants
- 8,025 SF
Property ID
US43-4758905
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- LongHorn Steakhouse / Restaurant
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 Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,906,000
- AI Estimate
- $1,563,000
Market price range: $798k - $1.91MMarket price range: $669k - $1.56M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $1,390,000 Current use
- COMMERCIAL (GENERAL)
- $1,415,000 Change: +2% Conversion: Easy
- RETAIL STORES
- $1,355,000 Change: -2% Conversion: Easy
- MEDICAL BUILDING
- $1,265,000 Change: -9% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
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
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$52,717
$0.00
$0.00
$1,493,310
-
$0.00
$0.00
$2,986,620
