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6524 W Saginaw Hwy
Lansing, MI 48917
Red Robin · Retail Property For Sale
Investment Highlights
- Strong Operator/Guarantor | Excellent Sales.
- 10% Rent Bumps Every 5 Years (Next in Jan 2029).
- Tenant Exercised All 3 Remaining Lease Extensions In Return For Additional 10 Year Term Renewal Options.
- Sub 6% Rent-To-Sales Ratio. 22 Year Occupancy.
- Outparcel to Kohl's and Kroger.
Executive Summary
Fortis Net Lease is pleased to present a prime investment opportunity in Lansing, MI: 6524 W Saginaw Hwy. This well-maintained 6,893 SF building, constructed in 2003 and zoned C, offers an ideal canvas for retail/restaurant investment. With a versatile layout and modern infrastructure, the property presents a lucrative opportunity for entrepreneurial ventures. Strategically situated in the thriving Lansing area, this highly visible location ensures maximum exposure for potential business endeavors. Discover the potential of this dynamic property, tailored for ambitious retail and restaurant investors seeking to establish a prominent presence in a strategically located commercial space.
Property Facts
Sale Type
Investment
Sale Condition
Ground Lease (Leasehold)
Property Type
Retail
Property Subtype
Restaurant
Building Size
6,893 SF
Building Class
C
Year Built
2002
Price
$2,795,000
Price Per SF
$405.48
Cap Rate
5.50%
NOI
$153,731
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
2.56 AC
Zoning
C-1 - Commercial
Parking
170 Spaces (24.66 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Restaurant
- Signage
Property Taxes
| Parcel Number | 040-010-400-056-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $866,500 |
Property Taxes
Parcel Number
040-010-400-056-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$866,500
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