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Single-Tenant Office

Quality Roots

2075 14 Mile Rd, Birmingham, MI 48009

Listing Price: $1,227,438

Cap Rate
7.00%
Tenant Name
Quality Roots
Years Remaining On Lease
4.1
Gross SF
3,353
Guarantor
Corporate Guarantee
Rentable SF
3,353
Price/Gross SF
$366.07
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.63

Investment Overview

Marcus & Millichap is pleased to present this 3.353-square foot, single-tenant Office property located at 2075 W 14 Mile Rd in Birmingham, Michigan. The property was renovated in 2020 and is situated on 0.22 acres. The current zoning allows for a second story, creating value add potential. Quality Roots has four years remaining on their triple-net lease. The guaranteed lease features 2.5 percent annual rent increases and one five-year option to renew. Quality Roots has one of the largest cannabis menus in the state of Michigan and is using the subject property as an office space. The company currently has three retail locations, with five more planned to open by 2023. Quality Roots has a partnership venture with Schostak Brothers & Co., one of the largest real estate development groups in the Metro Detroit area. Its TEAM Schostak Family Restaurants’ portfolio includes more than 150 fast-casual restaurants including Applebee’s, Del Taco, MOD Pizza, Olga’s Kitchen and Wendy’s brands. The property features excellent visibility on W 14 Mile Rd with traffic counts of 22,338 vehicles per day. The asset is a few minutes from the affluent Downtown Birmingham and The Shopping District. Notable nearby national tenants include Meijer, Kroger, Home Depot, Kohl’s, Whole Foods, Walmart, among others. This property also features excellent demographics with over 263,000 people with an average household income exceeding $121,000 within a five-mile radius. In summary, this asset provides an investor the opportunity to acquire a value-add asset situated in an affluent market.

Investment Highlights

  • Four Years Remaining on a Triple-Net Guaranteed Lease
  • 2.5 Percent Annual Rent Increases | One Five-Year Option to Renew
  • Quality Roots has a Partnership Venture with Schostak Brothers & Co. | 150+ Fast-Casual Restaurant Operator
  • Value-Add Potential | Zoning Allows for a Second Story
  • Close Proximity to Downtown Birmingham & The Shopping District
  • Nearby National Retail Includes Meijer, Kroger, Home Depot, Kohl's, Whole Foods, Walmart, and Many Others
  • Affluent Demographics | 263,334 Residents & Average Household Income of $121,855 within a Five-Mile Radius

Exclusively Listed By

Single-Tenant Office

Quality Roots

Listing Price: $1,227,438

Cap Rate
7.00%
Tenant Name
Quality Roots
Years Remaining On Lease
4.1
Gross SF
3,353
Guarantor
Corporate Guarantee
Rentable SF
3,353
Price/Gross SF
$366.07
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.63

Investment Highlights

  • Four Years Remaining on a Triple-Net Guaranteed Lease
  • 2.5 Percent Annual Rent Increases | One Five-Year Option to Renew
  • Quality Roots has a Partnership Venture with Schostak Brothers & Co. | 150+ Fast-Casual Restaurant Operator
  • Value-Add Potential | Zoning Allows for a Second Story
  • Close Proximity to Downtown Birmingham & The Shopping District
  • Nearby National Retail Includes Meijer, Kroger, Home Depot, Kohl's, Whole Foods, Walmart, and Many Others
  • Affluent Demographics | 263,334 Residents & Average Household Income of $121,855 within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present this 3.353-square foot, single-tenant Office property located at 2075 W 14 Mile Rd in Birmingham, Michigan. The property was renovated in 2020 and is situated on 0.22 acres. The current zoning allows for a second story, creating value add potential. Quality Roots has four years remaining on their triple-net lease. The guaranteed lease features 2.5 percent annual rent increases and one five-year option to renew. Quality Roots has one of the largest cannabis menus in the state of Michigan and is using the subject property as an office space. The company currently has three retail locations, with five more planned to open by 2023. Quality Roots has a partnership venture with Schostak Brothers & Co., one of the largest real estate development groups in the Metro Detroit area. Its TEAM Schostak Family Restaurants’ portfolio includes more than 150 fast-casual restaurants including Applebee’s, Del Taco, MOD Pizza, Olga’s Kitchen and Wendy’s brands. The property features excellent visibility on W 14 Mile Rd with traffic counts of 22,338 vehicles per day. The asset is a few minutes from the affluent Downtown Birmingham and The Shopping District. Notable nearby national tenants include Meijer, Kroger, Home Depot, Kohl’s, Whole Foods, Walmart, among others. This property also features excellent demographics with over 263,000 people with an average household income exceeding $121,000 within a five-mile radius. In summary, this asset provides an investor the opportunity to acquire a value-add asset situated in an affluent market.

Exclusively Listed By

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