Skip to main content

Restaurant

On the Border Mexican Grill | Westland, MI | 14 Years Remaining | 1% Annual Rent Increases

35613 Warren Rd, Westland, MI 48185

Listing Price: $3,766,166

Cap Rate
6.00%
Tenant Name
On The Border Mexican Grill & Cantina
Years Remaining On Lease
14.3
Guarantor
Corporate Guarantee
Rentable SF
6,025
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.50

Investment Overview

Marcus & Millichap is pleased to bring to market On the Border Mexican Grill & Cantina located in Westland, Michigan. On The Border Mexican Grill & Cantina is a chain of Tex-Mex food casual dining restaurants located in the United States and South Korea. The chain and brand name is owned by Argonne Capital Group. For nearly 40 years, we've cultivated a delicious menu featuring the BOLD flavors of Texas and Mexico. From using mesquite-wood grills to sear special marinades into our fajitas to crafting margaritas, chips, salsa, guacamole and tortillas by hand daily, we take pride in serving authentic Border-Style meals in generous portions. Founded in 2003, Argonne Capital Group is a closely-held private investment firm that makes equity investments in a diverse range of middle market enterprises. Unlike traditional private equity firms, Argonne independently capitalizes each investment it makes, allowing flexibility in the types of transactions it pursues and an indefinite time horizon for its ownership of any given asset. This flexibility has made Argonne a preferred acquirer in situations involving closely-held companies or unique deal dynamics. Argonne's investments and franchises include IHOP, Applebee's, On the Border, Planet Fitness, John Deere and more.

Investment Highlights

  • Absolute-Net Lease with Over 14 Years Remaining | Zero Landlord Responsibilities
  • $1.5 Million in Renovations | Complete Overhaul/Remodel of Existing Building in 2016
  • One Percent Annual Rental Increases, Next Increase Coming in 3/1/2022
  • Corporate Guaranteed by On the Border with Over 150 Locations
  • Outparcel to West Ridge Shopping Center Anchored by Target, Burlington, and Bed Bath & Beyond
  • Surrounding National Tenants: Kohl's, JCPenney, Sephora, Five Below, Party City, Crunch Fitness, Planet Fitness, McDonald's, and Starbucks
  • Located Along a Four Land Road with Dedicated Turn Lanes | Warren Road with Over26,500 Vehicles per Day
  • Extremely Densely Populated Trade Area with Over 450,000 People in a Seven-Mile Radius | The City of Westland, Michigan is Located Within the I-275 Loop just 18 Miles West of Downtown Detroit

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Restaurant

On the Border Mexican Grill | Westland, MI | 14 Years Remaining | 1% Annual Rent Increases

Listing Price: $3,766,166

Cap Rate
6.00%
Tenant Name
On The Border Mexican Grill & Cantina
Years Remaining On Lease
14.3
Guarantor
Corporate Guarantee
Rentable SF
6,025
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$37.50

Investment Highlights

  • Absolute-Net Lease with Over 14 Years Remaining | Zero Landlord Responsibilities
  • $1.5 Million in Renovations | Complete Overhaul/Remodel of Existing Building in 2016
  • One Percent Annual Rental Increases, Next Increase Coming in 3/1/2022
  • Corporate Guaranteed by On the Border with Over 150 Locations
  • Outparcel to West Ridge Shopping Center Anchored by Target, Burlington, and Bed Bath & Beyond
  • Surrounding National Tenants: Kohl's, JCPenney, Sephora, Five Below, Party City, Crunch Fitness, Planet Fitness, McDonald's, and Starbucks
  • Located Along a Four Land Road with Dedicated Turn Lanes | Warren Road with Over26,500 Vehicles per Day
  • Extremely Densely Populated Trade Area with Over 450,000 People in a Seven-Mile Radius | The City of Westland, Michigan is Located Within the I-275 Loop just 18 Miles West of Downtown Detroit

Investment Overview

Marcus & Millichap is pleased to bring to market On the Border Mexican Grill & Cantina located in Westland, Michigan. On The Border Mexican Grill & Cantina is a chain of Tex-Mex food casual dining restaurants located in the United States and South Korea. The chain and brand name is owned by Argonne Capital Group. For nearly 40 years, we've cultivated a delicious menu featuring the BOLD flavors of Texas and Mexico. From using mesquite-wood grills to sear special marinades into our fajitas to crafting margaritas, chips, salsa, guacamole and tortillas by hand daily, we take pride in serving authentic Border-Style meals in generous portions. Founded in 2003, Argonne Capital Group is a closely-held private investment firm that makes equity investments in a diverse range of middle market enterprises. Unlike traditional private equity firms, Argonne independently capitalizes each investment it makes, allowing flexibility in the types of transactions it pursues and an indefinite time horizon for its ownership of any given asset. This flexibility has made Argonne a preferred acquirer in situations involving closely-held companies or unique deal dynamics. Argonne's investments and franchises include IHOP, Applebee's, On the Border, Planet Fitness, John Deere and more.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

MM Texture Background
MM Textured Background Lower