424 Twelve Mile Rd Madison Heights, MI 48071
- Commercial real estate
- 2,387 SF
- 0.82 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 424 Twelve Mile Rd
- Year built
- 2024
- Lot size
- 0.82 lot acres
- Property size
- 2,387 SF
- Property type
- Commercial real estate
- APN
- 2511476025
Description
This exceptional investment opportunity presents a brand-new, 2024-built Chipotle restaurant in Madison Heights, Michigan. Boasting a 15-year absolute NNN lease with a corporate guarantee from Chipotle Mexican Grill (NYSE: CMG), this property offers significant long-term stability and predictable income. The 2,387 square foot building features a high-capacity drive-thru, maximizing operational efficiency and revenue potential. Located on Twelve Mile Road, a major commercial thoroughfare with over 30,000 vehicles per day, and less than 2000 feet from I-75, the property benefits from exceptional visibility and accessibility. The 0.82-acre lot is situated in a thriving retail area anchored by Lowe's and Home Depot, ensuring a strong customer base. The lease includes attractive 10% rent increases every five years, providing built-in yield growth. With a current NOI of $149,000 and a 5.25% cap rate, this property represents a compelling investment opportunity in a high-growth market. The strong demographics of Madison Heights, with nearly 120,000 residents within 3 miles, further enhance the investment's appeal. This is a truly hands-off investment, with the tenant responsible for all maintenance, taxes, and insurance. The property's prime location, strong tenant, and favorable lease terms make it an ideal addition to any portfolio. The asking price is $2,838,000, with a price per square foot of $1,189. The property's APN is 2511476025.
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
- Madison Heights
- County
- Oakland
- State
- Michigan
- Longitude
- -83.109809950589
- Latitude
- 42.504955822838
