1623 S Mission St - Fast Food FOR SALE


Mount Pleasant, MI 48858
$2,888,000 USD
617-904-4384
1623 S Mission St, Mount Pleasant, MI for Sale
$2,888,000 USD
Fast Food - FOR SALE
1/4
null | 8.66% Cap Rate

1623 S Mission St
Mount Pleasant, MI 48858


HIGHLIGHTS

  • Long Term Lease
  • Attractive Rent Increases
  • Zero Landlord Responsibilities
  • Rapidly Expanding Fast Food Tenant
  • College Town
  • Strategic Retail Location

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a single tenant Beef-A-Roo investment property located at 1623 Mission Street in Mount Pleasant, Michigan (“the Property”). Beef-A-Roo is operating under a 20-year Absolute NNN Lease that commenced in 2023. Currently there are 18+ years of term remaining followed by four (4), 5-year renewal options. The lease calls for attractive 2% annual rent increases throughout the base term and the renewal options. Beef-A-Roo is well located along Mission Street (US Route 127 BUS), the primary commercial corridor in Mount Pleasant. The Property is seconds from Central Michigan University, and the immediate area is home to shopping centers and countless national retailers and restaurants including Walmart Supercenter, Target, Meijer and Aldi driving traffic to the area. The Property features excellent frontage and visibility along Mission Street and is convenient to dense residential neighborhoods and area schools providing a built-in customer base. Beef-A-Roo is seconds from Central Michigan University, which has a total student enrollment of over 14,400, 3.5 miles from Mid-Michigan Community College (3,400 students), and 5 miles from the Soaring Eagle Casino.

FOR SALE DETAILS

PRICE

$2,888,000 USD

PRICE/SF

$549 USD /SF

CAP RATE

8.66%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Beef-A-Roo

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Fast Food, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.82 AC

LAND SF

35,719 SF

ZONING

Commercial

APN/PARCEL ID

17-000-16-882-00

ASK ABOUT THIS PROPERTY

Brendan ConwayHorvath & TremblayMore Info
617-904-4384

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Brendan ConwayHorvath & TremblayMore Info
617-904-4384

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