Address: 45630 N. Gratiot Avenue, Mt Clemens, Michigan, United States 48042
Cap Rate: 6.00%
Lease Type: Absolute Triple-Net (NNN)
Annual Rent: $81,708
Net Operating Income: $81,708
Rental Increases: 3.00% Every Four (4) Years
Options: Four (4), Five (5)-Year Options
Rentable Sq/Ft: 2,381 SF
Rent Sq/Ft: $34.32
Price Sq/Ft: $572
Lot Size: +/- 1.33
This Arby’s property is situated on North Gratiot Avenue, which boasts an average daily traffic count of 49,500 vehicles. North Gratiot Avenue intersects with Highway 59, which has an average daily traffic count of 110,000 vehicles. Highway 59 serves as an access road to Interstate 94, which brings an additional 131,000 vehicles into the immediate area every day. There are more than 46,000 individuals residing within a three-mile radius of the property and more than 133,000 individuals within a five-mile radius, these figure are projected to continue to grow over the next several years. The average income within a five-mile radius is greater than $89,000.
The subject property benefits from being well-positioned in a dense retail corridor consisting of national and local tenants, shopping centers, hospitality accommodations and other notable points of interest all within close proximity of this property. Major national tenants in the area include Walmart, The Home Depot, Target, BJ’s, Cabela’s, McDonald’s, Burger King, Starbucks, and so many more. The subject investment property also benefits from being located less than four miles from Selfridge Air Force Base. The working population of the base is currently 550 on active duty, 1,720 civilian workers, and 4,200 reservists and guardsmen.
Mount Clemens is a town in and the county seat of Macomb County with a population greater than 16,000. Mount Clemens boasts one of the few genuine downtown districts in the county. The central business and retail sectors radiate from Macomb Street and North Gratiot Avenue featuring gazebos, water fountains, gardens, statuary and shrubbery. Little coffee shops, delicatessens, restaurants and pubs are abundant in the downtown district. Drifting into the residential neighborhoods that surround the downtown, one is greeted by an eclectic collection of homes. They run the gamut from historic to contemporary, including 19th century mansions, post-World War I bungalows and traditional two-story, brick A frames. More than 3,000 rental units, including apartments and flats are also available. In recent years, first time home buyers and newlyweds have been attracted to the tree-lined streets, induced by moderate housing prices, an award-winning school district, numerous recreational amenities including sparkling Lake St. Clair and easy access to major metropolitan freeways.
MI Broker of Record Steve Chaben License: 3502387903