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1061 Michigan St NE
Grand Rapids, MI 49503
Wendy's · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 20-Year Triple Net Lease
- Strategic Midtown Location
- Established National Tenant
- Dense Urban Demographics
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Wendy's located at 1061 Michigan St NE, Grand Rapids, MI 49503. The site consists of roughly 3,500 rentable square feet of building space on an estimated 0.9-acre parcel of land. This Wendy's is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $175,000 and has scheduled increases of CPI or 1.50% annually.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,500 SF
Building Class
C
Year Built/Renovated
1976/2016
Price
$3,181,818
Price Per SF
$909.09
Cap Rate
5.50%
NOI
$175,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.90 AC
Zoning
Commercial - Commercial district zone
Frontage
36’ on Michigan St
AMENITIES
- Pylon Sign
- Drive Thru
PROPERTY TAXES
| Parcel Number | 41-14-20-382-011 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $960,100 |
PROPERTY TAXES
Parcel Number
41-14-20-382-011
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$960,100
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