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Domino's 206 Cypress St 1,374 SF 100% Leased Office Building Manistee, MI 49660 $533,000 ($387.92/SF) 6.75% Cap Rate
Investment Highlights
- 12 Years Remaining on Initial 15 Year Lease Term - Provides long-term lease stability
- Rent to Sales Ratio Below 5% - A low rent to sales ratio suggests the location is financially strong for the tenant
- Retrofit to Tenant's Specs in 2023 - Recent upgrades tailored to the tenant reduce near-term capital needs
- 2% Annual Rental Increases - Built in rent-growth creates compounding income increases over time to hedge against inflation and create property value
- Drive-Thru Equipped Building - The drive-thru adds convenience for customers and supports strong sales volume
- New Roof, HVAC, and Drive Thru
Executive Summary
12 Years Remaining on Initial 15 Year Lease Term - Provides long term lease stability
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
1,374 SF
Building Class
B
Year Built
1998
Price
$533,000
Price Per SF
$387.92
Cap Rate
6.75%
NOI
$35,974
Percent Leased
100%
Building Height
1 Story
Typical Floor Size
1,374 SF
Building FAR
0.09
Lot Size
0.34 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
19 Spaces (10 Spaces per 1,000 SF Leased)
Amenities
- Central Heating
- Partitioned Offices
- Reception
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 51-574-707-01 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $117,400 |
Property Taxes
Parcel Number
51-574-707-01
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$117,400
Contacts
-
Deno Bistolarides -
Brandon Kassab -
Ramzy Kizy -
Encore Real Estate Investment Services
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Domino's | 206 Cypress St
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