Cottage Inn Pizza

4390 Concourse Drive, Ann Arbor, MI 48108

$4,140,000

Cap Rate 7.25%

$4,285,715

Cap Rate 7.00%

Updated: 07.16.24 Posted: 11.07.23 Status: Sold

Summary

Price $4,140,000 $4,285,715	Built/Renov 2001	Tenant Cottage Inn Pizza
Cap Rate 7.25% 7.00%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 28,500	Lease Start 05-01-2024	#Units 59
Price/SF $145.26 $150.38	Expiration 04-30-2034	Tenant Type Fast Food/QSR
NOI $300,000	R. Term 8.11	Ownership Fee Simple
Rent/SF $10.53	Increases 10.0%/6/yrs	Pop 5Mi 158,628
Lot/AC 2.66	Options 4/5yrs/10%	AHHI 5Mi $108,143

Ayson Shammami

ENCORE Real Estate Investment Services

Contact

Lease Highlights

Cottage Inn will execute a brand-new 10-year lease at close of escrow with 4 (5-year) options to extend
Capital improvements of $250,000 are scheduled to be completed
Lease features rental increases of 10% in Year 6 and in each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee by Cottage Inn Pizza

Location Description

This 28,000 square foot Cottage Inn Pizza is strategically located along Concourse Drive, just off of State Street which see’s over 50,500 vehicles per day. The site is minutes away from the heavily traveled I-94 with traffic counts of 100K+ VPD. Neighboring national/credit tenants include Costco, Jimmy John’s, McDonalds, Taco Bell, Tim Hortons and many others. The 5-mile trade area is...

...

Key Features

In location for years
Near major nationals
Freeway close
Dense 100M+ pop 5 mi
Affluent AHHI $100K 5 Mi
Major MSA
Brand new lease
Absolute NNN
Long 10+ yr lease
Corporate Guarantee

...

Links

Cottage Inn Pizza Wikipedia Cottage Inn Pizza Wikipedia Ann Arbor, Michigan Zip Code 48108 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Cottage Inn Pizza
Guarantor:Corporate
Company:Cottage Inn Pizza
# Units:59
Stock:Private

About Tenant

Cottage Inn Pizza is an American pizza franchise delivery company. The chain is known for its novel gourmet pizzas but also offers salads, subs, wings, cheese breads, and more. The Original...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	1,116	50,150	162,511
2023 Total Population :	1,080	49,889	161,299
2023 Employed Civilian Pop :	577	27,600	83,873
2023 Total Businesses :	495	2,975	7,221
2023 Average Household Income :	$ 83,201	$ 135,387	$ 121,309
2023 Total Consumer Spending :	$ 41 M	$ 2609 M	$ 6937 M
2023 Median Age :	33	39	32
2023 Total Households :	570	22,520	66,182
2023 Pop Age 25+: Bachelor's Degree :	205	11,733	31,017
2023 Average Home Value :	$ 238,147	$ 416,728	$ 429,094

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Concourse Rd	S State St	2012	500	0.13 mi
Runway Blvd	Venture Dr	2012	815	0.18 mi
Concourse Dr	Concourse Rd	2012	596	0.20 mi
Venture Dr	Runway Blvd	2012	580	0.29 mi
Runway Blvd	Venture Dr	2012	447	0.29 mi
Ellsworth Rd	Concourse Rd	2021	15,795	0.39 mi
South State Street	Runway Blvd	2022	16,049	0.39 mi
Venture Dr	W Morgan Rd	2012	688	0.50 mi
E Ellsworth Rd	Varsity Dr	2001	5,638	0.53 mi
State St	S State St	2012	16,630	0.53 mi

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT