206 Cypress St - Office FOR SALE
Manistee, MI 49660 |
$533,000 USD
248-702-0288
206 Cypress St
Manistee, MI 49660
HIGHLIGHTS
- 12 Years Remaining on Initial 15 Year Lease Term - Provides long-term lease stability
- 2% Annual Rental Increases - Built in rent-growth creates compounding income increases over time to hedge against inflation and create property value
- Rent to Sales Ratio Below 5% - A low rent to sales ratio suggests the location is financially strong for the tenant
- Drive-Thru Equipped Building - The drive-thru adds convenience for customers and supports strong sales volume
- Retrofit to Tenant's Specs in 2023 - Recent upgrades tailored to the tenant reduce near-term capital needs
- New Roof, HVAC, and Drive Thru
FOR SALE DETAILS
PRICE
$533,000 USD
PRICE/SF
$388 USD /SF
CAP RATE
6.75%
% LEASED
-
TENANCY
-
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Domino's
PROPERTY TYPE
Office
TOTAL BUILDING SIZE
-
STORIES
1
BUILDING CLASS
B
YEAR BUILT
1998
SPRINKLERS
-
PARKING SPACES
19
LAND DETAILS
LAND ACRES
0.34 AC
LAND SF
14,810 SF
ZONING
Commercial
APN/PARCEL ID
51-574-707-01
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248-702-0288
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248-702-0288
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