1380 Wright Ave - Freestanding FOR SALE


Alma, MI 48801
$699,000 USD
989-463-1219
1380 Wright Ave, Alma, MI for Sale
$699,000 USD
Freestanding - FOR SALE
1/54
null | 6.02% Cap Rate

1380 Wright Ave
Alma, MI 48801


HIGHLIGHTS

  • Busiest Corner in Gratiot County with approximately 15,000 cars per day
  • Two long-term tenants with scheduled increases to benefit property owner
  • NNN Lease

OVERVIEW

Prime Investment Opportunity: Commercial Property with Triple Net Leases Investors, take note of this exceptional opportunity to own a commercial property with secure, long-term income from two established tenants. This low-maintenance investment generates over $42,000 annually, with both tenants on triple net (NNN) leases, minimizing landlord responsibilities to only the structural portions of the roof, exterior, and load-bearing walls. Property Highlights: 1. Tenant 1: Quick-Service Pizza Restaurant & Fast-Food Delivery Lease Details: In place through 2028, with options to renew, ensuring consistent and reliable rental income. Income: $30,000 per year with scheduled rent increases, adding future value. Business: Thriving quick-service model with steady foot traffic and delivery operations, a staple in the local community. 2. Tenant 2: Digital Advertising Company Lease Details: A remarkable 40-year lease, guaranteeing income security for decades. The digital advertising sign features continuous scrolling marketing, driving high visibility for local businesses. Income: $12,000 per year with scheduled increases, further boosting long-term revenue potential. Signage: Strategically positioned to maximize exposure, benefiting from consistent demand for advertising space. This commercial property offers an ideal investment for buyers seeking a solid return with minimal management demands on the busiest corner in all of Gratiot County. With long-term leases and built-in rent escalations, it promises stable cash flow and appreciation potential. Don’t miss this chance to add a high-yield, hassle-free asset to your portfolio! Contact us today for more details and to schedule a viewing.

FOR SALE DETAILS

PRICE

$699,000 USD

PRICE/SF

$375 USD /SF

CAP RATE

6.02%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Fast Food, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

-

APN/PARCEL ID

51-341-013-30

ASK ABOUT THIS PROPERTY

Micah Kemler43 NORTH REALTYMore Info
989-463-1219

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Micah Kemler43 NORTH REALTYMore Info
989-463-1219

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