436-486 S Main St - Fast Food FOR SALE


Lapeer, MI 48446
$2,035,384 USD
332-345-4222
436-486 S Main St, Lapeer, MI for Sale
$2,035,384 USD
Fast Food - FOR SALE
1/2
null | 5.85% Cap Rate

436-486 S Main St
Lapeer, MI 48446


HIGHLIGHTS

  • Long-Term, 20-Year Absolute Triple Net (NNN) Lease
  • Approximately 12.1 Years of Base Lease Term Remaining
  • Corporate Guarantee from Wendy’s Properties, LLC

OVERVIEW

NNN Pro Group is pleased to present the exclusive listing for a Wendy’s located at 436 South Main Street in Lapeer, Michigan. The site consists of roughly 2,273 rentable square feet of building space on estimated 0.95-acre parcel of land. This Wendy’s is subject to a 20-year absolute triple-net (NNN) lease, which commenced July 1st, 2015. The current annual rent is $119,070 and is scheduled to increase by 5% every 5 years throughout the base term and in each of the 2, 5-year renewal options.

FOR SALE DETAILS

PRICE

$2,035,384 USD

PRICE/SF

$895 USD /SF

CAP RATE

5.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wendy's

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1976

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

Commercial

APN/PARCEL ID

L21-55-800-040-00

ASK ABOUT THIS PROPERTY

Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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Glen KunofskyNNN Pro GroupMore Info
332-345-4222

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