McAlister’s Deli,
Flint Township, MI Investment Summary
| Price | $2,751,000 |
| Cap Rate | |
| NOI | $144,400 |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN, With Tenant Responsible For All Taxes, Insurance, and Maintenance, Including Roof, Structure, and Parking Lot |
| Rental Increases | 1.75% Annual Rental Increases |
| Year Built | 2021 |
| Building Size | 3,100 SF |
| Lot Size | 1.4 Acres (60,984 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Executive Managing Director 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 |
Investment Highlights
20-YEAR ABSOLUTE NNN LEASE WITH CORPORATE GUARANTY
» 20-year initial term, plus three (3) five-year options
» No landlord management, ideal for an out-of-area investor
» 1.75 percent annual rental increases, providing a hedge against inflation
» Guaranteed by Focus Brands, Inc., a leading developer of global multi-channel foodservice brands ($3.4 billion in revenue)
» The McAlister’s brand has over 420 restaurants in 28 states and has been awarded numerous industry accolades for its service, atmosphere, and customer satisfaction
CENTRAL LOCATION IN HIGHLY POPULATED AND GROWING RETAIL CORRIDOR
» 113,098 residents within a five-mile radius of the property
» Easily accessibly location along Miller Road (40,072 AADT)
» Beneficial proximity to major Michigan thoroughfares, including Interstates 69 and 75 (combined 171,808 AADT)
» Central location surrounded by Flint Township’s largest employers, including multiple GM plants featuring a combined 6,832 employees
» Surrounded by a strong mix of well-established national tenants in a dense retail corridor, including JCPenney, Burlington, PetSmart, Walmart Supercenter, The Home Depot, Macy’s, and many more
» Beneficial proximity to highly attended Flint Township schools, including Carman Ainsworth High School, Morrish Elementary School, and Carman Ainsworth Middle School (combined 2,671 students)
» Projected 10 percent average annual household income increase within five miles of the site in the next five years, poising McAlister’s Deli and Flint Township for concurrent growth
NEW 2021 CONSTRUCTION
» Features latest McAlister’s Deli prototype
» Includes drive-thru pick-up window for take-out orders made online or via phone
» Location includes patio seating for added customer convenience
Property Description
SOLD
The property has an easily accessible location along Miller Road, with visibility and access to 40,072 vehicles per day. The site also maintains a beneficial proximity to major Flint thoroughfares, including Interstates 69 and 75, which feature a combined high traffic count of 171,808. The property benefits from its central location in a highly populated area, with 113,098 residents living within a five-mile radius of the location. The location has a beneficial proximity to Flint Township’s largest employers as well, including multiple GM plants featuring a combined 6,832 employees.
The property is also surrounded by a strong mix of national tenants in a dense retail corridor, including JCPenney, Burlington, PetSmart, Walmart Supercenter, The Home Depot, Macy’s, and many more. The site features a beneficial proximity to highly attended Flint Township schools, including Carman Ainsworth High School, Morrish Elementary School, and Carman Ainsworth Middle School (combined 2,671 students). With a projected 10 percent average annual household income increase within five miles of the site in the next five years, McAlister’s Deli and Flint Township are poised for concurrent growth.
