Listing Summary
Corporate Famous Dave's single-tenant NNN restaurant in Flint, MI. $3.54M at 7% Cap Rate ($248k NOI). New 15-year extension, corporate guaranty, zero duties.
Full Description
Brand-New 15-Year Lease Extension with Corporate Guarantee
This 6,315 SF single-tenant restaurant property anchored by Famous Dave's presents a premier turn-key commercial real estate investment opportunity in Flint, Michigan. Offering ultimate income stability, the tenant recently demonstrated exceptional commitment to this location by executing a brand-new 15-year lease renewal.
Priced at $3,548,500 with a competitive 7.00% Cap Rate ($248,395 NOI), the asset features a Corporate Guaranty backed directly by Famous Dave’s parent company (BBQ Holdings / MTY Food Group), delivering financial stability and peace of mind. Featuring a 100% passive Absolute NNN lease structure, the tenant covers all operational expenses, insurance, real estate taxes, and building maintenance, leaving zero landlord responsibilities.
Situated on a generous 1.64-acre parcel along Miller Road, this property also sits within a designated Opportunity Zone, unlocking tax incentives and long-term capital gains benefits for strategic investors.
Investment Highlights & Financial Breakdown
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Brand-New 15-Year Term Extension: Long-term lease security backed by recent renewal, demonstrating strong historical sales performance and tenant commitment.
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Strong Corporate Guarantee: Lease backed by Famous Dave's parent corporate entity, providing corporate credit support and dependable cash flow.
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100% Passive Absolute NNN Structure: Zero landlord management or maintenance obligations—perfect for hands-off 1031 exchange buyers.
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Desirable Financial Returns: Offered at $3,548,500 generating a stable Net Operating Income (NOI) of $248,395, delivering a strong 7.00% cap rate.
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Prime High-Traffic Location: Situated along a major retail thoroughfare with 200 feet of direct frontage on Miller Road for maximum visibility and effortless ingress/egress.
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Opportunity Zone Tax Benefits: Located in a designated Opportunity Zone, offering capital gains tax deference and potential long-term tax advantages.
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Exceptional Parking & Accessibility: Features 135 dedicated parking spaces (21.38 per 1,000 SF ratio) and convenient access to local bus transit lines.
Strategic Corridor & Site Advantages
Positioned along Miller Road—one of Flint’s most active commercial retail arteries—this standalone restaurant benefits from strong surrounding retail synergy, high consumer traffic, and outstanding road frontage. The generous 1.64-acre lot footprint and ample parking capacity easily handle high-volume dining hours, while pylon signage optimizes brand visibility.
Comprehensive Property Specifications
| Asset Parameter |
Property Details |
| Property Name |
Famous Dave's BBQ |
| Property Location |
Flint, MI (Miller Road Corridor) |
| Property Type |
Retail / Standalone Restaurant |
| Tenant / Guarantor |
Famous Dave's (Corporate Guarantee) |
| Lease Type |
Absolute NNN (Zero Landlord Responsibilities) |
| Lease Term |
15-Year Recent Extension |
| Purchase Price |
$3,548,500 |
| Cap Rate |
7.00% |
| Net Operating Income (NOI) |
$248,395 |
| Building Size |
6,315 SF |
| Price Per SF |
$561.92 / SF |
| Lot Size |
1.64 Acres |
| Year Built |
1985 |
| Opportunity Zone |
Yes |
| Zoning |
B2 (Commercial Business, Flint) |
| Parking Capacity |
135 Spaces (21.38 / 1,000 SF) |
| Frontage |
200 Feet on Miller Road |
Quick Glance
- Listing ID:
CL-Michigan-28094
- Status:
Active
- Year Build:
1985
- Building Size:
6,315 SqFt
- Lot Size:
2 Acr
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