930 S 11th St - Freestanding FOR SALE


Niles, MI 49120
$3,638,785 USD
248-702-0288
930 S 11th St, Niles, MI for Sale
$3,638,785 USD
Freestanding - FOR SALE
1/6
null | 7% Cap Rate

930 S 11th St
Niles, MI 49120


HIGHLIGHTS

  • Brand-new 2022 construction; fully leased three-tenant retail center
  • 10-year leases with strong personal guarantees and minimal landlord obligations (NN+)
  • Drive-thru equipped building with excellent visibility on heavily trafficked 11th Street
  • Scheduled rental escalations every 5 years for Wingstop and Firehouse Subs, including options
  • WellNow Urgent Care lease has 7.5 years remaining on its original 10-year term
  • High-credit national tenants: WellNow (220+ locations), Wingstop (2,279+ locations), Firehouse Subs (1,250+ locations)

OVERVIEW

Property Highlights: Newly constructed in 2022 – two-building, three-tenant design 7,800 SF retail center situated on 2.82 acres 100% leased to nationally recognized tenants: Wingstop, Firehouse Subs, and WellNow Urgent Care Sale Price: $3,638,785 | CAP Rate: 7.00% NOI: $254,715 Drive-thru equipped | Strong visibility and access along heavily traveled 11th Street Limited landlord responsibilities (NN+ lease structure) Long-term leases with personal guarantees and scheduled rental increases Firehouse Subs and Wingstop feature (2) 5-year renewal options; WellNow includes (3) 5-year renewal options Population exceeds 40,850 residents within a 5-mile radius Tenant Strength: Wingstop: Over 2,200 locations worldwide, publicly traded (NASDAQ: WING), $9B+ market cap Firehouse Subs: 1,250+ locations, subsidiary of Restaurant Brands International (NYSE: QSR) WellNow Urgent Care: Over 220 urgent care centers across several states, rapidly expanding footprint This is a high-quality, stabilized investment anchored by strong, expanding national brands, offering durable cash flow with built-in rent escalations.

FOR SALE DETAILS

PRICE

$3,638,785 USD

PRICE/SF

$359 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

WINGSTOP, FIREHOUSE SUBS AND WELLNOW RETAIL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2022

SPRINKLERS

-

PARKING SPACES

118

LAND DETAILS

LAND ACRES

2.82 AC

LAND SF

122,839 SF

ZONING

RC

APN/PARCEL ID

11-73-5250-0028-01-1

ASK ABOUT THIS PROPERTY

Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

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

Deno BistolaridesEncore Real Estate Investment ServicesMore Info
248-702-0288

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