Investment Highlights
Prime location in affluent, vibrant suburb of Detroit
Growing, dense infill location ? strong demographics | 143,542 population within a 3-mile radius
Mission restaurant group ? Michigan based restaurant operator
Downtown hard corner location with high foot traffic
10 years absolute net lease | 10% rental escalations every 5 years
Bandit Tavern & Hideaway ? Royal Oak, MI | Mission Restaurant Group recently placed $500k in renovations to the subject property
Executive Summary
Faris Lee Investments is pleased to present the opportunity to acquire the fee simple interest in the Bandit Tavern restaurant property located at 419 South Main St, in bustling Royal Oak MI. Positioned on a prime hard-corner parcel, this property offers investors a unique opportunity to tap into the thriving retail market in one of Metro Detroit?s most affluent and vibrant suburbs. Bandit Tavern will be commencing a 10+ year lease at the close of escrow, with 10% rental increases every 5 years. The property has zero landlord responsibilities, which makes this the ideal secure investment opportunity for a passive investor. Bandit Tavern & Hideaway, operated by Mission Restaurant Group, is a renowned regional operator with a 10+ years of success in Michigan. With over 800 employees and restaurants all over the state of Michigan, Mission Restaurant Group has achieved success through its 20+ concepts including: Jolly Pumpkin, Blue Tractor BBQ & Brewery, Craft, Mission Table, the Peninsula Room, Mash, Avalon International Bread, Bandit Tavern, and more. Mission Restaurant Group plans to grow their reach and bring their restaurant concepts to even more Midwestern communities in 2024.Strategically located on a hard corner along Main St, the property benefits from high foot traffic and over 28,500 vehicles per day (VPD). The property stands at the center of residential and commercial activity, and is surrounded by many new multifamily developments/mid-rises. Within a 1-mile radius, the population boasts a high average household income ($139,836). Additionally, the many businesses and restaurants that position themselves on or near Main Street equate to over 46,000 employees within a 3-mile radius of the subject property.
