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311 US Highway 31 S 3,179 SF Retail Building Traverse City, MI 49685 $1,193,292 ($375.37/SF) 6.50% Cap Rate
Investment Highlights
- 20-year triple net (NNN) lease offering passive, management-free income
- Annual NOI of $77,564 providing stable cash flow
- Strong visibility and access along US-31 in Traverse City, MI
- Leased to KFC, a nationally recognized quick-service restaurant brand
- Freestanding 3,179 SF building on a large 1.96-acre lot
- Long-term lease reduces vacancy and rollover risk
Executive Summary
Fortis Net Lease is pleased to present a long-term net lease investment opportunity featuring a freestanding KFC located at 311 US-31, Traverse City, Michigan. The property
is secured by a 20-year triple net (NNN) lease, providing investors with a passive income stream and minimal landlord responsibilities, as the tenant is responsible for
taxes, insurance, and maintenance. The building spans approximately 3,179 square feet and is situated on a generous 1.96-acre parcel, offering strong underlying real estate
value and potential future redevelopment flexibility. With a nationally recognized quick service restaurant tenant, this asset benefits from consistent consumer demand and
brand stability.
The property generates a current net operating income (NOI) of $77,564 annually, making it an attractive option for investors seeking stable, long-term cash flow.
Positioned along US-31, a primary commercial corridor in Traverse City, the site benefits from strong visibility and accessibility, enhancing customer traffic and tenant
performance. While rent escalations and renewal options are not specified, the long term lease structure provides security of income and reduces near-term rollover risk.
This investment is well-suited for buyers seeking a dependable, management-free asset
backed by an established national tenant.
is secured by a 20-year triple net (NNN) lease, providing investors with a passive income stream and minimal landlord responsibilities, as the tenant is responsible for
taxes, insurance, and maintenance. The building spans approximately 3,179 square feet and is situated on a generous 1.96-acre parcel, offering strong underlying real estate
value and potential future redevelopment flexibility. With a nationally recognized quick service restaurant tenant, this asset benefits from consistent consumer demand and
brand stability.
The property generates a current net operating income (NOI) of $77,564 annually, making it an attractive option for investors seeking stable, long-term cash flow.
Positioned along US-31, a primary commercial corridor in Traverse City, the site benefits from strong visibility and accessibility, enhancing customer traffic and tenant
performance. While rent escalations and renewal options are not specified, the long term lease structure provides security of income and reduces near-term rollover risk.
This investment is well-suited for buyers seeking a dependable, management-free asset
backed by an established national tenant.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,179 SF
Building Class
B
Year Built
2000
Price
$1,193,292
Price Per SF
$375.37
Cap Rate
6.50%
NOI
$77,564
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.96 AC
Zoning
C - Commercial
Frontage
194’ on U.S. 31
Amenities
- Drive Thru
Somewhat walkable
20/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 05-032-021-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $364,500 |
Property Taxes
Parcel Number
05-032-021-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$364,500
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311 US Highway 31 S
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