2119 Bay St
Saginaw, MI 48602
Auction:5/30 - 6/1: 2119 Bay Street · Retail Property For Sale

**THE PROPERTY SHALL BE DEED RESTRICTED AGAINST PHARMACY AND RETAIL HEALTH SERVICES ONLY** **CLOSE OF ESCROW IS ON OR BEFORE JUNE 29th**Investment Highlights: *Free standing, 10,880 SF facility located on Bay street between State and Davenport. Curb to each street and signage at each entry. Three street access with traffic counts of +/- 42,000. *Currently leased to Advance Stores Company, Inc., d/b/a Advance Auto Parts. *NN, single tenant with annual rent of $119,680. Investment Overview: This is the lease of a 10,880 SF facility to Advance Auto. The lease commenced in 2003 and will terminate on 7/31/2019 with one 5-year option available beyond that date. Current annual rent is $119,680 while the rent for the option period would increase to $141,440. The LL has responsibility for roof and structure, while the Tenant is responsible for other maintenance, as well as reimbursement of real estate taxes. This is one of four Advanced Auto units in the Saginaw market (one operating as Car Quest), as compared to Auto Zone (4) and O'Reilly (3). The subject lease allowed the tenant to terminate the lease in 2012, but the tenant did not elect to do so. The property is strategically located on Bay Street, the main north south corridor in west Saginaw, and in between State and Davenport, major east-west arteries in the market. There is access to all three streets with combined average daily traffic counts of approximately 42,000. Demographics within one mile reveal a population of 13,715 people, an average HH income of $51,576, and a median HH income of $41,738. The three mile population is 72,148 with an average HH income of 53,902 and a median HH income of $44,500. This is a strong neighborhood location with solid middle class demographics and favorable site characteristics, as regarding accessibility, ingress/egress, traffic counts, signage, parking and visibility.\