45211 Park Ave - Restaurant FOR SALE
Utica, MI 48315 |
$2,464,000 USD
602-412-3775
45211 Park Ave
Utica, MI 48315
HIGHLIGHTS
- CLOSE PROXIMITY TO $1B REDEVELOPMENT – The subject property is located roughly 1-mile from the Lakeside City Center Redevelopment Project.
- MAIN RETAIL CORRIDOR – The property benefits from its strategic position in the heart of Utica’s main retail corridor.
- TEAM Schostak Family Restaurants received Applebee’s corporate distinction as Franchisee of the Year in 2022.
- The lease is backed by TSFR Apple Venture, LLC which encompasses all 60+ TEAM Schostak Applebee’s restaurants in Michigan.
- SUCCESSFUL OPERATING HISTORY – Applebee’s has been operating at this site since 1994 which proves the location’s success.
- SALES REPORTING – The tenant reports unit level sales at this location which benefits and allows the landlord to gauge the tenant’s performance
FOR SALE DETAILS
PRICE
$2,464,000 USD
PRICE/SF
$370 USD /SF
CAP RATE
9%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Applebee's
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Restaurant
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1994
SPRINKLERS
-
PARKING SPACES
116
LAND DETAILS
LAND ACRES
1.38 AC
LAND SF
60,113 SF
ZONING
MXD
APN/PARCEL ID
11-07-35-351-101
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602-412-3775
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602-412-3775
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