McAlister’s Deli,
Adrian, MI Investment Summary
| Price | $2,995,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN Lease With Tenant Responsible For Taxes, Insurance, And All Maintenance, Including Roof And Structure |
| Rental Increases | 1.75% Annual Rental Increases |
| Year Built | 2021 (Under Construction) |
| Building Size | 2,800 SF |
| Lot Size | 1.23 Acre 53,579 SF) |
| Status | Sold |
| Lead Brokers | Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing 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 500 restaurants in 28 states and has been awarded numerous industry accolades for its service, atmosphere, and customer satisfaction
CENTRAL LOCATION IN POPULOUS AND GROWING RETAIL CORRIDOR
» Hard-corner location at the intersection of South Main Street and Baker Street (15,503+ AADT)
» 36,772 residents live within a five-mile radius
» Beneficial proximity to major Michigan thoroughfares, including U.S. Route 223 (19,003 AADT)
» Excellent location in a major commuter corridor, with proximity to several high density single-family developments
» 2.7 miles from Lenawee County Fairgrounds (4.5 million annual visitors)
» Central location near highly attended Adrian universities and schools, including Siena Heights University and Adrian College (combined 3,780 students, 898 employees)
» Projected 10 percent average annual household income increase within five miles of the site in the next five years, poising McAlister’s Deli and Adrian 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 a hard-corner location at the intersection of South Main Street and Baker Street, with high visibility and access to 15,503+ vehicles per day. The property also maintains an excellent location in a major commuter corridor and resides near major Michigan thoroughfares, including U.S. Route 223 (19,003 AADT). The site benefits from its central location in a well-populated area, with 36,772 residents living within a five-mile radius of the property. With a projected 10 percent average household income increase within a five-mile radius of the site in the next five years, McAlister’s Deli and Adrian are poised for steady concurrent growth. The site also benefits from its central Adrian location 2.7 miles from Lenawee County Fairgrounds (4.5 million annual visitors) and near highly attended Adrian universities and schools, including Siena Heights University and Adrian College (combined 3,780 students, 898 employees).
