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Restaurant

Arby's Restaurant | Absolute Net Lease

40210 Michigan Ave, Canton, MI 48188

Listing Price: $1,804,000

Cap Rate
5.00%
Tenant Name
Arby's Restaurant Group, Inc.
Years Remaining On Lease
10.1
Gross SF
3,282
Guarantor
Corporate Guarantee
Rentable SF
3,282
Price/Gross SF
$549.66
Lease Type
Absolute Net
Rent Per Square Feet
$27.48

Investment Overview

Marcus & Millichap is pleased to offer for sale this single-tenant net lease Arby’s restaurant located at 40210 Michigan Avenue, in Canton, Michigan. This 3,282 square-foot property is situated on a 1.2-acre lot. Arby’s has 10 years remaining on the Absolute Net lease with 10 percent rental increases every five years. The tenant has five, five-year option periods to renew, each with a 10 percent increases or based on CPI. The lease is corporately guaranteed by Arby’s Restaurant Group, Inc. (S&P: BBB-) a wholly owned subsidiary of Inspire Brands with 3,472 locations in seven countries. This asset features excellent frontage on Michigan Avenue which experiences over 35,000 vehicles per day. Arby’s is also located seconds from Interstate-275 which experiences over 83,000 vehicles per day at this location. This Arby’s is situated in a dense retail corridor and is four miles from Michigan’s only IKEA location. There are over 12.5 million square feet of retail within a five-mile radius. Other nearby national retail includes Target, Walmart Supercenter, Lowe’s Home Improvement, Gardner-White Furniture, among others. Arby’s is also located in close proximity to the Ford Motor Company Michigan Assembly Plant, a five million square foot facility which currently produces the Ford Ranger and employs 4,990 people. Canton, Michigan features excellent demographics, there are over 184,000 people with an average household income exceeding $79,000 within a five-mile radius.

Investment Highlights

  • Corporately Guaranteed by Arby's Restaurant Group, Inc.
  • 10 Years Remaining on the Absolute Net Lease | 10% Increases Every Five Years
  • Five, Five-Year Options with Increases
  • Outstanding Location Near IKEA & Seconds from Interstate-275
  • Nearly Three Million Square Feet of Retail in a Five-Mile Radius
  • Heavily Trafficked Thoroughfare | Over 35,000 Vehicles Per Day
  • Close Proximity to Ford Motor Company Michigan Assembly Plant
  • Excellent Demographics – Over 184,000 Residents with an Average Household Income Exceeding $79,000 Within a Five-Mile Radius

Exclusively Listed By

Restaurant

Arby's Restaurant | Absolute Net Lease

Listing Price: $1,804,000

Cap Rate
5.00%
Tenant Name
Arby's Restaurant Group, Inc.
Years Remaining On Lease
10.1
Gross SF
3,282
Guarantor
Corporate Guarantee
Rentable SF
3,282
Price/Gross SF
$549.66
Lease Type
Absolute Net
Rent Per Square Feet
$27.48

Investment Highlights

  • Corporately Guaranteed by Arby's Restaurant Group, Inc.
  • 10 Years Remaining on the Absolute Net Lease | 10% Increases Every Five Years
  • Five, Five-Year Options with Increases
  • Outstanding Location Near IKEA & Seconds from Interstate-275
  • Nearly Three Million Square Feet of Retail in a Five-Mile Radius
  • Heavily Trafficked Thoroughfare | Over 35,000 Vehicles Per Day
  • Close Proximity to Ford Motor Company Michigan Assembly Plant
  • Excellent Demographics – Over 184,000 Residents with an Average Household Income Exceeding $79,000 Within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to offer for sale this single-tenant net lease Arby’s restaurant located at 40210 Michigan Avenue, in Canton, Michigan. This 3,282 square-foot property is situated on a 1.2-acre lot. Arby’s has 10 years remaining on the Absolute Net lease with 10 percent rental increases every five years. The tenant has five, five-year option periods to renew, each with a 10 percent increases or based on CPI. The lease is corporately guaranteed by Arby’s Restaurant Group, Inc. (S&P: BBB-) a wholly owned subsidiary of Inspire Brands with 3,472 locations in seven countries. This asset features excellent frontage on Michigan Avenue which experiences over 35,000 vehicles per day. Arby’s is also located seconds from Interstate-275 which experiences over 83,000 vehicles per day at this location. This Arby’s is situated in a dense retail corridor and is four miles from Michigan’s only IKEA location. There are over 12.5 million square feet of retail within a five-mile radius. Other nearby national retail includes Target, Walmart Supercenter, Lowe’s Home Improvement, Gardner-White Furniture, among others. Arby’s is also located in close proximity to the Ford Motor Company Michigan Assembly Plant, a five million square foot facility which currently produces the Ford Ranger and employs 4,990 people. Canton, Michigan features excellent demographics, there are over 184,000 people with an average household income exceeding $79,000 within a five-mile radius.

Exclusively Listed By

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