Detroit, MI - Mad Nice

Description:

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, freestanding restaurant investment property located in Detroit, Michigan. The tenant, Mad Nice, has over 7 years remaining on its initial term with 4 (5-year) options to extend. The subject property is operated by Heirloom Hospitality, a preeminent Detroit-based restaurant and hospitality group with a proven track record of developing and operating high-level restaurant concepts. Their portfolio includes critically acclaimed establishments such as Townhouse Detroit, Townhouse Birmingham, and Prime + Proper, a renowned steakhouse, expanding to Nashville.

Located just minutes from downtown, the subject property benefits from its inclusion in Detroit’s entertainment ecosystem. Among the most dense and diverse of any mid-sized American city, Detroit has four major professional sports franchises playing within the city limits, drawing millions of fans annually. Moreover, the city’s casino industry generates over $1.29 billion annually across resort properties MGM Grand Detroit, MotorCity Casino Hotel, and Hollywood Casino at Greektown. Coupled with a hospitality market anchored by the 1,300-room Detroit Marriott at the Renaissance Center, and an additional 4,000 rooms in downtown, further cementing Detroit as one of America’s premier destination cities.

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Listing ID: a28TP000002h9BlYAI