$1,433,000 USD
650-678-7200
2951 Stadium Dr
Kalamazoo, MI 49008
Oakland/Winchell
HIGHLIGHTS
- Brand-new 20-year absolute net lease featuring a personal guaranty from the operator
- 10% rental increases every 5 years providing a hedge against inflation
- 2nd largest Meineke operator in the country – 39 units currently with plans in place to expand to 100+
- Dense residential trade area – 148,000 residents within a 5-mile radius of the subject property
- Surrounding residents own an average of 2 cars per household, with the 5-mile population spending approximately $8.7M on auto repair annually (CoStar)
- Subject property features standalone frontage on Stadium Drive – the main retail thoroughfare in the trade area
OVERVIEW
A brand-new 20-year lease featuring 10% rental increases every 5 years and an absolute net lease structure requiring zero landlord expense/maintenance obligations. Tenant is the 2nd largest Meineke operator in the country with 39 locations currently in their system and plans in place to expand to 100+ units.
FOR SALE DETAILS
PRICE
$1,433,000 USD
PRICE/SF
$308 USD /SF
CAP RATE
6.5%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Auto Repair
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1978
SPRINKLERS
-
PARKING SPACES
25
LAND DETAILS
LAND ACRES
0.46 AC
LAND SF
20,038 SF
ZONING
CC
APN/PARCEL ID
06-29-117-001
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650-678-7200
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650-678-7200
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