3667 E Grand River Ave - Fast Food FOR SALE
Howell, MI 48843 |
$1,625,000 USD
248-702-0288
3667 E Grand River Ave
Howell, MI 48843
HIGHLIGHTS
- Drive-through equipped former Wendy’s retrofitted for Dave’s Hot Chicken and delivered to the tenant in essentially brand-new condition following sign
- Tenant is Dave’s Hot Chicken, a fast-growing, nationally and internationally expanding fast-casual restaurant concept specializing in Nashville-style
- Dave’s Hot Chicken is backed by Roark Capital Group, one of the leading private equity firms in the restaurant sector
- Lease is with Hot North Chicken LLC, a Michigan-based Dave’s Hot Chicken franchisee.
- Ten year original lease term with 3 percent annual rent increases beginning in 2027.
- Two five-year renewal options with 3 percent annual rent increases during each option period.
FOR SALE DETAILS
PRICE
$1,625,000 USD
PRICE/SF
$385 USD /SF
CAP RATE
6.15%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Dave's Hot Chicken
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Fast Food
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1992
SPRINKLERS
-
PARKING SPACES
45
LAND DETAILS
LAND ACRES
1.82 AC
LAND SF
79,279 SF
ZONING
RCD
APN/PARCEL ID
11-05-400-027
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248-702-0288
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248-702-0288
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