2521 Alpine Ave
Grand Rapids, MI 49544
Fazoli's NNN (8.47% CAP in 2018) · Retail Property For Sale

*CAP Rate listed above is the return based on scheduled rent increase on 8/2018. Current rent- $6,500/month, 8/2017- $7,000/month, 8/2018- $9,167/month This property is a NNN Leased Fazoli's located in Grand Rapids, MI. There are over 11 Years Remaining with very attractive rent increases. Fazoli's has been operating at this site for 20 years, and the lease was recently extended for 15 years in 2013. The property was recently remodeled joining many of the other QSR's in the area that have recently remodeled, indicating the strength of the local retail market. This Fazoli's also has many high ratings on Google Reviews with an average of 4.3 out of 5 stars. Fazoli's is an Italian-American fast casual restaurant chain based out of Lexington, Kentucky. It was founded in 1988 and is now owned by Sentinel Capital Partners. In total, Sentinel's current restaurant portfolio comprises more than 2,300 units operating in 61 countries and generates annual system wide sales of almost $4.0 billion. Today, there are more than 200 Fazoli's located nationwide with plans to expand overseas. It is the leading Italian fast casual dining concept. The property is located one block south of I-96 along Alpine Avenue, a major retail corridor within the city of Walker, Michigan (Grand Rapids MSA). The property is shadow anchored by Meijer and Home Depot. Michigan Broker of Record - Steven Chaben