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Taco Bell W 206 US-2 2,589 SF 100% Leased Retail Building Saint Ignace, MI 49781 $1,855,000 ($716.49/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 throughout the primary term
- 2022 construction Drive Thru location — modern prototype reducing capex risk
- Absolute NNN lease — zero landlord responsibilities for taxes, insurance, CAM, roof/structure
- Experienced multi-unit operator: 7 Bells, LLC with ±14 units and 30+ years in Yum! Brands
- Located at the north end of Mackinac Bridge — ±11,600 vehicles per day pass-through
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
Fast Food
Building Size
2,589 SF
Building Class
B
Year Built
2022
Price
$1,855,000
Price Per SF
$716.49
Cap Rate
5.85%
NOI
$108,510
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.04
Lot Size
1.50 AC
Parking
33 Spaces (12.75 Spaces per 1,000 SF Leased)
Frontage
Somewhat walkable
20/100
Exceptionally drivable
100/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 49008-100-034-17 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $224,000 |
Property Taxes
Parcel Number
49008-100-034-17
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$224,000
Contacts
-
Hudson DeJean -
Haidyn DeJean -
Alex DeSoto -
Simon Assaf -
Matthews Real Estate Investment Services
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