Sleep Number & Naf Naf Grill
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

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Michael Carter

Senior Director

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PROPERTY ADDRESS

14860 Hall Rd., Sterling Heights, MI 48313

PROPERTY INFORMATION

Price:
$3,785,307
Cap Rate:
6.50%
Term Remaining:
10 Years
Year Built:
2016
Status:
Available

INVESTMENT HIGHLIGHTS

  • NN+ Lease Leaves Landlord with Minimal Responsibilities
  • Both Tenants Will Operate on New 10 Year Leases
  • New Construction to Be Completed Mid-2016
  • Lease Comes Equipped with Rental Increases Every 5 Years
  • Sleep Number has No Debt and is Ranked #6 Nationally in Sales Per Square Foot of all Retailers, just Behind Coach, Tiffany and Lu-lu Lemon
  • Naf Naf Grill is a Growing Franchisee with Over 40 Locations

INVESTMENT SUMMARY

Fortis Net Lease is proud to present this two tenant retail property with Sleep Number and Naf Naf Grill. The subject property is Located in a one of the most developed retail corridors in Metro Detroit. It is located right next to Lakeside Mall (1,550,000 sq. ft.) and is less than 1 mile from the Outdoor Mall at Partridge Creek (640k sq. ft.). There are over 108,000 Cars per day on Hall Road. The average household income is $76,000 within a 5 mile radius and the 5 mile population exceeds $243,000.