241 Church St - Fast Food FOR SALE


Georgetown Township, MI 49428
$2,181,000 USD
510-289-1166
241 Church St, Georgetown Township, MI for Sale
$2,181,000 USD
Fast Food - FOR SALE
1/1
null | 5.5% Cap Rate

241 Church St
Georgetown Township, MI 49428


HIGHLIGHTS

  • New 15-Year Corporate Absolute NNN Ground Lease to Arby’s with Scheduled 10% Rental Increases
  • 2024 Construction with Double Drive-Thru Component
  • Neighbors Top 10% Locations Nationwide for Meijer and Aldi & #3 Most Visited Costco in Michigan
  • Population of 132,575 within 5 Mile Radius
  • $105,523 Average Household Income within a 3-Mile Radius
  • 8 Miles from Downtown Grand Rapids

OVERVIEW

The subject property is prominently located with excellent access and visibility along Main Street (13,272 AADT) adjacent to the I-196 arterial (67,551 AADT) linking Jenison to Grand Rapids. The site benefits from robust demographics with a population of 132,575 within a 5 mile radius, and is a daytime population hub with a total daytime population approximately 150% higher within a 1 mile radius than the base population. Average household income within 3 miles of the site is $105,523. The property benefits from a prominent retail location in close proximity to major shopping centers, employers, and retail tenants. Nearby retail centers and major tenants include: • Meijer – 2.6 million annual visits, top 10% location nationwide per Placer.Ai • ALDI – 609,500 annual visits, top 10% location nationwide • At Home – 238,000 annual visits • Walmart Supercenter – 2.4 million annual visits • Grandville Marketplace – 3.1 million annual visits - Lowe’s – 794,200 annual visits - PetSmart – 222,400 annual visits - Hobby Lobby – 499,600 annual visits, #2 location in Michigan • Costco – 3 million annual visits, #3 location in Michigan • Wilson Town Center – 2.9 million annual visits - Home Depot – 867,900 annual visits - Best Buy – 313,300 annual visits - Michael’s – 270,600 annual visits • Bucktown Shopping Center – 4.8 million annual visits - Target – 1.5 million annual visits, top 25% location in Michigan - Cabela’s – 713,900 annual visits, #5 location nationwide, #1 location in Michigan

FOR SALE DETAILS

PRICE

$2,181,000 USD

PRICE/SF

$925 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Arby's Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,878 SF

ZONING

-

APN/PARCEL ID

70-14-13-401-028

ASK ABOUT THIS PROPERTY

Putnam DailyFisher James CapitalMore Info
510-289-1166

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Putnam DailyFisher James CapitalMore Info
510-289-1166

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