Description

We are pleased to present this opportunity. Famous Dave’s Bar-B-Que is a single-tenant restaurant investment offered for sale at 5665 Bay Road in Saginaw, Michigan. The 7,595-square-foot property is priced at $2,480,000, or approximately $326.53 per square foot, at a reported 7.50% capitalization rate and $186,000 in net operating income.

The restaurant is fully occupied under an absolute NNN corporate lease. Famous Dave’s has operated at the location for more than 20 years and recently renewed its commitment to the site. Broker materials identify a lease expiration of December 31, 2035, contractual rent increases and three additional five-year renewal options.

Built in 2004, the freestanding restaurant occupies approximately 3.10 acres and is zoned B-3. The Bay Road location sits within Saginaw’s primary retail corridor near Walmart, Meijer, Target, Home Depot and other national retailers.