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997 W Sharon Ave 3,359 SF Retail Building Houghton, MI 49931 $1,761,357 ($524.37/SF) 7% Cap Rate
Investment Highlights
- Corporate-backed Burger King tenant with strong national credit profile
- Supported by nearby residential density and regional activity drivers
- Prime retail location along W Sharon Ave in Houghton
Executive Summary
Fortis Net Lease is pleased to present the opportunity to acquire a freestanding Burger
King located at 997 W Sharon Ave in Houghton. The subject property consists of a 3,359
square foot building situated on a 0.77-acre parcel and is secured by a long-term 19-
year NNN lease. This structure provides investors with a passive income stream, as the
tenant is responsible for taxes, insurance, and maintenance. With an annual net
operating income of $123,295, the asset delivers stable cash flow backed by a globally
recognized quick-service restaurant operator.
Strategically located along a key retail corridor, the property benefits from strong
visibility and convenient access within the primary commercial area of Houghton. The
surrounding trade area is supported by local residential neighborhoods, nearby
educational institutions, and consistent traffic generated by regional activity. The
presence of Burger King further enhances the long-term durability of the investment,
making this offering an attractive opportunity for investors seeking stability, passive
income, and a well-positioned net lease asset in an established Upper Peninsula market.
King located at 997 W Sharon Ave in Houghton. The subject property consists of a 3,359
square foot building situated on a 0.77-acre parcel and is secured by a long-term 19-
year NNN lease. This structure provides investors with a passive income stream, as the
tenant is responsible for taxes, insurance, and maintenance. With an annual net
operating income of $123,295, the asset delivers stable cash flow backed by a globally
recognized quick-service restaurant operator.
Strategically located along a key retail corridor, the property benefits from strong
visibility and convenient access within the primary commercial area of Houghton. The
surrounding trade area is supported by local residential neighborhoods, nearby
educational institutions, and consistent traffic generated by regional activity. The
presence of Burger King further enhances the long-term durability of the investment,
making this offering an attractive opportunity for investors seeking stability, passive
income, and a well-positioned net lease asset in an established Upper Peninsula market.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,359 SF
Building Class
C
Year Built
2018
Price
$1,761,357
Price Per SF
$524.37
Cap Rate
7%
NOI
$123,295
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.78 AC
Zoning
B-3
Parking
40 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
295’ on W Sharon Ave
Amenities
- Air Conditioning
Fairly walkable
50/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 052-056-018-00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $423,994 |
Property Taxes
Parcel Number
052-056-018-00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$423,994
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997 W Sharon Ave
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