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51295 Gratiot Ave
Chesterfield, MI 48051 New Baltimore

$1,500,000

Restaurant For Sale  •  5,111 Sq Ft

Property Details

  • Property Type Restaurant
  • Total Building Size 5,111 Sq Ft
  • Lot Size 1.24 ac
  • Building Class B
  • Year Built 1998
  • Cap Rate 6.00 %
  • Tenancy Single
  • Zoning C3
0 Transit Score
54 Walk Score

Description

The Ruby Tuesday is located along Gratiot Ave (11,700 VPD), the main retail thoroughfare of Chesterfield Township. The Ruby Tuesday is an outparcel to The Home Depot anchored center and also features national/credit tenants including PetSmart, Michaels, and Autozone. The asset is adjacent to a Meijer Supercenter, a regional supermarket chain. Other  nearby/credit tenants including Lowes, Best Buy, Target, Staples, Dick’s, Hobby Lobby, Big Lots, and Planet Fitness, further increasing consumer traffic to the surrounding area. The site is within close proximity to several apartment complexes including Oakview Square, The Willow, and Aspen Creek (1,163 combined Units), which provides a steady consumer base for the immediate trade area. The 5-mile trade area is supported by a population of 98,000 with an averge household income of $86,000

Highlights

New 20-Year Lease | 10% Rental Increases
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Near the Signalized Hard Corner Intersection | Interstate 94 (54,400 VPD)
Outparcel to The Home Depot Anchored Center | Dense Retail Corridor
Dense Residential Area | Corporate Backed Lease
Cap Rate: 6.00 %

Major Tenants

Tenant SF Occupied Lease End Date
Ruby Tuesday 5,111 SF 12/31/2037

Amenities

  • Corner Lot
  • Freeway Visibility
  • Pylon Sign
  • Restaurant
  • Signage
  • Signalized Intersection

Public Transportation

AirportDriveWalkDistance
Detroit City Airport 38 min - 27.1 mi

Parking Details

Parking Available: No
Reserved: No
Type: Covered
Included in Rent: Yes
Patrick Luther 949-698-1100 SRS National Net Lease Group
Patrick Luther 949-698-1100 SRS National Net Lease Group