8251 Trillium Circle Ave - Freestanding FOR SALE


Grand Blanc, MI 48439- Grand Blanc/Goodrich
$6,657,777 USD
248-884-7400
8251 Trillium Circle Ave, Grand Blanc, MI for Sale
$6,657,777 USD
Freestanding - FOR SALE
1/7
null | 9% Cap Rate

8251 Trillium Circle Ave
Grand Blanc, MI 48439
Grand Blanc/Goodrich


HIGHLIGHTS

  • Long-Term Triple-Net Ground Lease *The NCG Ground Lease is for the Parking Lot Required for their Building
  • NCG Owns the Building Pad (Building Pad is NOT Included in the Sale)
  • 11 Years Remaining | Original 30-Year Lease 10% Rent Increases Every 5 Years
  • NCG Cinema is an Independent, Family-Owned Business with 26 Locations Across 9 States
  • Ranks in the Top 10% of All NCG Cinemas Nationwide Top 13% of All NCG Locations in Michigan
  • Only IMAX in Genesee County | 11 Total IMAX Locations in Michigan | Nearest IMAX: 25 Miles

OVERVIEW

Marcus & Millichap is pleased to present this NCG Cinema Parking Lot Ground Lease located at 8251 Trillium Circle Avenue in Grand Blanc, Michigan. The property sits on a 1.87-acre lot with approximately 600 parking spaces. The triple-net ground lease is guaranteed by NCG Cinemas, Inc. and has 11 years remaining on the original 30-year term. Rent increases of 10 percent are scheduled every five years. NCG Cinemas is an independent, family-owned business with 26 theaters across nine states. This location ranks in the Top 10% of all NCG Cinemas nationwide and in the Top 13% of NCG locations in Michigan based on Placer.ai performance data. The Grand Blanc location is the only IMAX in Genesee County. There are 11 total IMAX locations in the State of Michigan and the nearest IMAX is 25 miles away. The Grand Blanc IMAX has 284 seats and features a four and a half story screen and 12,000 watts of digital sound. The theater offers 14 additional screens, three of which have 284 seats and 11 have 94 seats each. There is a total of 2,170 seats in the entire theater. The subject property is well positioned off Holly Road (21,438 VPD) and is in immediate proximity to medical and professional offices as well as residential neighborhoods. The theater also benefits from easy access to Interstate 75, which experiences over 65,000 vehicles per day. Nearby retailers include Kroger, Walmart, Sam’s Club, Kohl’s, PetSmart, Aldi, and others. The area benefits from a strong retail market, with 3.3 million square feet of retail space within a five-mile radius and a 97.3 percent occupancy rate. NCG Cinema is two miles from Ascension Genesys Hospital, a 412-bed facility with 24/7 emergency care and a Level II adult trauma center. The hospital is a primary employer in the area and has a large health club facility on campus, offering a variety of sports and health services to the community. Also nearby is McLaren Health Care Corporate Headquarters, a 65,000-square-foot office built in 2017. Grand Blanc, Michigan is a suburban community located in Genesee County. The area is characterized by a stable and growing population, with a median household income above the national average. There are 67,900 residents with an average household income of nearly $94,800 within a five mile radius of the property.

FOR SALE DETAILS

PRICE

$6,657,777 USD

PRICE/SF

$940 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

9.0% Cap | 11-Year NNN Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Movie Theatre

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.87 AC

LAND SF

81,457 SF

ZONING

GC

APN/PARCEL ID

12-22-100-066

ASK ABOUT THIS PROPERTY

Darin GrossMarcus & MillichapMore Info
248-884-7400

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Darin GrossMarcus & MillichapMore Info
248-884-7400

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