2018-01-10 / News

Qdoba, Tropical Smoothie project listed for $2.5M


Renderings of the finished Qdoba/Tropical Smoothie Café site in Lapeer can be found with the property listing online. Renderings of the finished Qdoba/Tropical Smoothie Café site in Lapeer can be found with the property listing online. LAPEER — The new Qdoba Mexican Eats and Tropical Smoothie Café at the busy corner of Baldwin and Main Street (M-24) is set to open during the first quarter of 2018 — and can be yours for a cool $2.5 million.

Steven Silverman, an agent with Farmington Hills-based Friedman Integrated Real Estate Solutions, confirmed the listing and asking price.

Silverman told The County Press that the Bloomfield Hills-based builder behind the project is in the business of developing such projects and then selling them to investors.

Silverman said the $2.5-million price tag “is basically valuing the income stream as well as the cost of development that the developer has into it.”

The listing consists of the 1.06-acre lot along with the two buildings totaling 4,243 square feet.

The $2.5 million asking price is based on $589.21 per square foot, per the listing that was most recently updated on Jan. 2.

Silverman said the buyer will essentially serve as landlord to both Qdoba and Tropical Smoothie.

The Qdoba is a corporate-owned location while the Tropical Smoothie Café is backed by a franchisee, he said.

The leases for both are for 10 years.

Construction on the site that formerly included home and mortgage and insurance buildings began last May.

Andrew Dietderich

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