1061 Michigan St NE - Fast Food FOR SALE


Grand Rapids, MI 49503- Midtown Grand Rapids
$3,181,818 USD
310-750-7175
1061 Michigan St NE, Grand Rapids, MI for Sale
$3,181,818 USD
Fast Food - FOR SALE
1/3
null | 5.5% Cap Rate

1061 Michigan St NE
Grand Rapids, MI 49503
Midtown Grand Rapids


HIGHLIGHTS

  • 20-Year Triple Net Lease
  • Established National Tenant
  • Strategic Midtown Location
  • Dense Urban Demographics

OVERVIEW

Surmount is pleased to present the exclusive listing for a Wendy's located at 1061 Michigan St NE, Grand Rapids, MI 49503. The site consists of roughly 3,500 rentable square feet of building space on an estimated 0.9-acre parcel of land. This Wendy's is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $175,000 and has scheduled increases of CPI or 1.50% annually.

FOR SALE DETAILS

PRICE

$3,181,818 USD

PRICE/SF

$909 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wendy's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.9 AC

LAND SF

39,204 SF

ZONING

Commercial

APN/PARCEL ID

41-14-20-382-011

ASK ABOUT THIS PROPERTY

Kyle GulockSurmountMore Info
310-750-7175

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Kyle GulockSurmountMore Info
310-750-7175

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.