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Longhorn Steakhouse

$3,739,131

86 West 14 Mile Road, Troy, MI 48083

Active
Last Updated: 12/17/2024

5.75

Cap Rate

215,000

NOI

Details:
Cap Rate:    5.75%
NOI:    $215,000
Building Size:    8,329 sqft
Lot Area:    1.67 acres
Lease Type:    Absolute Net
Year Built:    2022 (Under Construction)
Tenancy:    Single
Highlights:
  • DARDEN RESTAURANTS (NYSE: DRI) CORPORATE LEASE: Darden Restaurant Inc is the world’s largest full service restaurant company with more than 1,800 locations and 175,000 employees
  • ABSOLUTE NNN GROUND LEASE –ZERO LL RESPONSIBILITIES
  • NEW CONSTRUCTION: Longhorn is currently under construction at the site of a former Logan’s Steakhouse. Construction is expected to be completed by Summer 2022
  • HIGH PROFILE TRADE AREA: Longhorn sits as an outlot to the Oakland Mall (1.5M SF), one of Metro Detroit’s top malls anchored by Macy’s, JC Penney, Dick’s, At Home (new store), and Hobby Lobby (new store).
  • EXCELLENT ACCESS/VISIBILITY: The site is just off of the I-75 interchange. Longhorn is directly on the corner of 14 Mile (43,300 VPD) and John R (19,860 VPD) and benefits from multiple access points on each road.
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Documents:
Title
Longhorn_Steakhouse_Property-Troy__MI-OM.pdf
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