Net Leased Subway Sold

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.”

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