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Taco Bell 510 N Cedar St 2,346 SF 100% Leased Retail Building Kalkaska, MI 49646 $2,562,000 ($1,092.07/SF) 5.85% Cap Rate
Investment Highlights
- 15-Year sale-leaseback with Four, 5-Year options from the Close of Escrow
- 10% rental increases every 5 years providing steady NOI appreciation
- 2023 construction drive-thru reducing near-term capital expenditure risk
- Absolute NNN lease — zero landlord responsibilities for taxes, insurance, CAM, roof/structure
- Experienced multi-unit operator: 7 Bells, LLC (±14 units, 30+ years in Yum! Brands system)
- Signalized intersection of US-131, M-72, and M-66 with ±13,700 VPD
Executive Summary
Broker of Record
Matt Fitzgerald
License # 6502432668, 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Matt Fitzgerald
License # 6502432668, 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
2,346 SF
Building Class
C
Year Built
1978
Price
$2,562,000
Price Per SF
$1,092.07
Cap Rate
5.85%
NOI
$149,862
Percent Leased
100%
Building Height
1 Story
Building FAR
0.04
Lot Size
1.51 AC
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Accommodation and Food Services
- -
- -
- -
Taco Bell began in 1962 when Glen Bell opened the first restaurant in Downey, California, building on earlier taco stands and a background in fast-service restaurant operations. The chain serves Mexican-inspired foods such as tacos, burritos, quesadillas, nachos, and beverages, and its business spans company-operated and franchised restaurants. Taco Bell has grown into a widely recognized quick-service brand with a substantial presence in the United States and in markets outside the country. The company maintains digital ordering, career, and newsroom platforms that support menu launches, brand updates, and franchise-related hiring.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Accommodation and Food Services | - | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 041-160-024-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $458,900 |
Property Taxes
Parcel Number
041-160-024-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$458,900
Contacts
-
Hudson DeJean -
Haidyn DeJean -
Alex DeSoto -
Simon Assaf -
Matthews Real Estate Investment Services
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