1158 W Superior St - Fast Food FOR SALE


Wayland, MI 49348
$2,877,506 USD
1158 W Superior St, Wayland, MI for Sale
$2,877,506 USD
Fast Food - FOR SALE
1/3
null | 5.5% Cap Rate

1158 W Superior St
Wayland, MI 49348


HIGHLIGHTS

  • Absolute NNN lease with no landlord maintenance obligations.
  • Located immediately off the US-131 interchange in Wayland.
  • Contractual 10% rent increases every five years.
  • Lease term extends through December 2036 with renewal options.
  • Fee simple ownership on a freestanding restaurant site.
  • Operated by Border Foods, a large Taco Bell franchisee.

OVERVIEW

Taco Bell at 1158 W Superior Street presents an opportunity to acquire a fee simple, single-tenant net lease investment positioned immediately off the US-131 interchange in Wayland, Michigan. The property is occupied by Taco Bell under an absolute NNN lease structure, with the tenant responsible for taxes, insurance, maintenance, utilities, parking lot upkeep, roof, structure, and foundation repairs. This structure minimizes landlord responsibilities and provides a predictable income stream. The property sits along Wayland's primary retail corridor with direct exposure to traffic traveling through the US-131 Exit 64 interchange. Surrounding retailers include Harding's Market, McDonald's, Burger King, and Jimmy John's, supporting consistent commercial activity and consumer traffic. Wayland is located between the Grand Rapids metropolitan area and the Kalamazoo-Portage metropolitan area, providing access to regional commuters and travelers moving through western Michigan. The lease commenced in December 2016 and extends through December 2036, with five additional 5-year renewal options available to the tenant. Scheduled rent escalations of 10% every five years provide contractual income growth throughout the remaining primary term and option periods. Annual rent is scheduled to increase from $158,263 beginning December 2026 to $280,372 during the final option period. The tenant operates as a Taco Bell franchise location under Border Foods, Inc., one of the largest privately held Taco Bell franchisees in the United States. Border Foods operates more than 254 Taco Bell locations across 10 states and has maintained operations since 1986, providing established franchise operating history at the property.

FOR SALE DETAILS

PRICE

$2,877,506 USD

PRICE/SF

$1,439 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.38 AC

LAND SF

59,982 SF

ZONING

-

APN/PARCEL ID

56-006-053-20

ASK ABOUT THIS PROPERTY

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