Savvy Sliders

22420 Farmington Rd, Farmington, MI

$1,285,000

Price

7%

Cap Rate

$90,000

NOI

Overview
Cap Rate
7%
NOI
$90,000
Building Size
4,044 sqft
Lot Area
0.75 acres
Occupancy
100%
Units
1
Year Built
2006
Description

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Farmington is a city in Oakland County in the state of Michigan. A northwestern suburb of Detroit, Farmington is located roughly 20 miles from downtown Detroit, and is surrounded on most sides by the larger city of Farmington Hills. As of the 2020 census, the city had a population of 11,594.

The area is known for its historic downtown, elegant Victorian-style homes, and one of Michigan's top rated public school systems, Farmington Public Schools. Since 2009, the city's downtown has been the center of an extensive renovation and remodeling featuring a refacing or rebuilding of many buildings on Grand River Avenue, as well as brick paver sidewalks, the Farmington Pavilion, new lighting, and landscaping. In 2007 CNNMoney.com listed Farmington as number 55 in its Best Places to Live survey. Farmington was also ranked 27th on the list for Best to Live in 2013, citing nearly $3 million in additional city renovations and development, bumping its rank up.

Oakland County is a principal county of the Detroit metropolitan area, containing the bulk of Detroit's northern suburbs. Due to the county's government complex spanning 2 municipalities, its county seat is shared between Pontiac and Waterford. Its largest city is Troy. As of the 2020 Census, its population was 1,274,395, making it the second-most populous county in Michigan (behind neighboring Wayne County), and the largest county in the United States without a city of 100,000 residents. Oakland County is composed of 62 cities, villages, and townships. In 2010, Oakland County was among the ten wealthiest counties in the United States to have over one million residents. It is also home to Oakland University, a large public institution that straddles the border between the cities of Auburn Hills and Rochester Hills.

Highlights
  • 4,044 Square Foot Net Leased Quick Service Restaurant Located on .75 Acres of Land
  • High Image Construction - Built in 2006 as a Bank Branch and Retrofitted into a Quick Service Restaurant in 2023
  • Drive Thru Equipped
  • Double Net Lease - Minimal Landlord Responsibilities
  • Founded in 2008 and Headquartered in Metro Detroit, Savvy Sliders has 41 Locations Nationally (MI, OH, TX & FL)
  • 10 Year Initial Lease with 9+ Years Remaining - Two, Five Year Options to Renew
  • Rental Increases Every Five Years and Through the Option Periods
  • Very Strong Location in Farmington - One of Metro Detroit's Premier Suburbs
  • Strategically Located at the Hard Corner Signalized Intersection of Nine Mile and Farmington Road - Excellent Visibility, Access and Signage from both Thoroughfares
  • Strong Retail Area Surrounded by Dense Suburban Neighborhoods

Location
Gallery