McAlister’s Deli,
Sterling Heights, MI Investment Summary
| Price | $2,855,000 |
| Cap Rate | 5.50% |
| NOI | $157,000 |
| Lease Term | 20 Years |
| Lease Type | Absolute NNN Lease, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Including Roof, Structure, And Parking Lot |
| Rental Increases | 1.75% Annual Rent Increases |
| Year Built | 2023 |
| Building Size | 3,100 SF |
| Lot Size | 1.07 Acres (46,609 SF) |
| Status | Under Contract |
| 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% rental increase every year
» Guaranteed by Focus Brands, LLC, 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
PROMINENT LOCATION IN DENSE INDUSTRIAL AND RETAIL CORRIDOR
» Directly across from Meijer Grocery Store just off the signalized intersection of Van Dyke Avenue and 16 Mile Road with access to 98,706 vehicles per day
» Walking distance from Tru by Hilton Sterling Heights Detroit (98 rooms) and Hampton Inn & Suites Detroit/Sterling Heights (76 rooms) with many nearby hotels located along Van Dyke Avenue
» Surrounded by many major industrial plants including Stellantis (7,000 employees), Chrysler (4,000 employees), Ford (4,000 employees), General Dynamics (2,000 employees), KUKA Systems (1,000 employees) and many others
» Central location near many large national retailers including The Home Depot, Aldi, LA Fitness, Chipotle, Taco Bell, McDonald’s, Wendy’s, Panera Bread, and many others
CENTRAL LOCATION IN A DENSELY POPULATED AND AFFLUENT SUBURB OF DETROIT
» 289,407 residents live within five miles of the property, providing McAlister’s Deli with a strong and immediate customer base
» Projected 15% income increases within 1-, 3-, and 5-mile radii over the next five years poise McAlister’s Deli and Sterling Heights for steady concurrent growth
» Near many well-attended schools including Sterling Heights High School (1,472 students), and Will Carleton Middle School (641 students)
» Dense urban location 20 miles from Downtown Detroit
BRAND NEW 2023 CONSTRUCTION TO THE LATEST MCALISTER’S DELI PROTOTYPE
» Features latest McAlister’s Deli prototype
» Includes drive-thru pick-up window for take-out orders made online or via phone
Property Description
» This McAlister’s Deli is located directly across from Meijer Grocery Store
» Strategically located just off the signalized intersection of Van Dyke Avenue and 16 Mile Road with access to 98,706 vehicles per day
» Within walking distance from Tru by Hilton Sterling Heights Detroit (98 rooms) and Hampton Inn & Suites Detroit/Sterling Heights (76 rooms), with several other hotels located within a five-mile radius along Van Dyke Avenue
» Surrounded by many major industrial plants including Stellantis (7,000 employees), Chrysler (4,000 employees), Ford (4,000 employees), General Dynamics (2,000 employees), KUKA Systems (1,000 employees) and many others
» Centrally located near many large national retailers including The Home Depot, Aldi, LA Fitness, Chipotle, Taco Bell, McDonald’s, Wendy’s, Panera Bread, and several others
» 289,407 residents live within five miles of the property, providing McAlister’s deli with a strong and immediate customer base
» Dense urban location 20 miles from Downtown Detroit
