The Boulder Group, a net leased investment brokerage firm completed the sale of a single tenant Subway located at 9350 Telegraph Road in Redford, Michigan for $550,000.
The 1,680 square-foot building benefits from its location along Telegraph Road which experiences over 64,000 vehicles per day. The property shadow anchors Redford Plaza Shopping Mall. Tenants occupying the center include Dollar Tree, Foot Locker, AutoZone, Burlington, GNC, and Octapharma Plasma. Other neighboring retailers include ALDI, Ford, Starbucks, Dunkin’, and Walgreens. Additionally, the property is located less than 20 minutes west of downtown Detroit. There are 350,000+ people living within a five mile radius that earn an average household income of $75,608.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented both sides in the transaction. The seller was a private real estate firm based in California. The buyer was a local investor.
The tenant has been successfully operating at this location since 2008. The lease is absolute triple net with no landlord responsibilities. Subway is a globally recognized fast-food restaurant chain specializing in submarine sandwiches (subs) and salads. Founded in 1965 by Fred DeLuca and Dr. Peter Buck, Subway is renowned for its customizable sandwiches. With over 37,000 locations in more than 100 countries, Subway has become a popular choice for quick, convenient, and personalized meals.
“The corporate guaranty and low absolute rent provided solid fundamentals for potential investors.” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman of The Boulder Group, added, “The low price-point of this deal generated over a dozen offers despite the current market conditions.”
About The Boulder Group
The Boulder Group is a boutique investment real estate service firm specializing in single tenant net lease properties. The firm provides a full range of brokerage, advisory, and financing services nationwide to a substantial and diversified client base, which includes high-net-worth individuals, developers, REITs, partnerships and institutional investment funds. Founded in 1997, the firm has arranged the acquisition and disposition of over $9 billion of single tenant net lease real estate transactions. From 2013-2024, the firm was ranked in the top 10 companies in the nation for single tenant retail transactions by both Real Capital Analytics and CoStar. The Boulder Group is headquartered in suburban Chicago and has an office in Denver.
More info: www.bouldergroup.com
Media Contact
Company Name: The Boulder Group
Contact Person: Randy Blankstein
Email: Send Email
Phone: 8478816388
Address:3520 Lake Avenue Suite 203
City: Wilmette
State: Illinois
Country: United States
Website: https://www.bouldergroup.com/NNN-Properties-For-Sale.html