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1014 Michigan St NE
Grand Rapids, MI 49503
Retail Property For Sale
Investment Highlights
- 20-year triple net (NNN) lease providing passive, management-free income
- Strong annual NOI of $144,512 ensuring reliable cash flow
- Located along Michigan St NE in a dense retail and commercial corridor
- Leased to Taco Bell, a nationally recognized quick-service restaurant brand
- Freestanding 2,690 SF building on a 0.65-acre lot
- Tenant responsible for taxes, insurance, and maintenance
Executive Summary
Fortis Net Lease is pleased to present a freestanding Taco Bell located at 1014 Michigan St NE in Grand Rapids, Michigan, secured by a long-term 20-year triple net (NNN) lease. The NNN structure ensures a passive investment profile, with the tenant responsible for all property expenses including taxes, insurance, and maintenance. The property
consists of a 2,690 square foot building positioned on a 0.65-acre parcel, offering efficient site utilization along a well-trafficked urban corridor. Backed by a nationally recognized quick-service restaurant brand, the asset benefits from strong consumer demand and established brand loyalty.
The property generates a current net operating income (NOI) of $144,512, providing investors with a stable and predictable income stream. Its location along Michigan
Street NE places it within a dense retail and commercial area, supporting consistent traffic and tenant performance. While specific rent escalations and renewal options are
not outlined, the long-term lease term offers security and minimizes near-term rollover risk. This investment is well-suited for buyers seeking durable cash flow with minimal
management responsibilities in a strong regional market.
consists of a 2,690 square foot building positioned on a 0.65-acre parcel, offering efficient site utilization along a well-trafficked urban corridor. Backed by a nationally recognized quick-service restaurant brand, the asset benefits from strong consumer demand and established brand loyalty.
The property generates a current net operating income (NOI) of $144,512, providing investors with a stable and predictable income stream. Its location along Michigan
Street NE places it within a dense retail and commercial area, supporting consistent traffic and tenant performance. While specific rent escalations and renewal options are
not outlined, the long-term lease term offers security and minimizes near-term rollover risk. This investment is well-suited for buyers seeking durable cash flow with minimal
management responsibilities in a strong regional market.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Fast Food
Building Size
2,690 SF
Building Class
C
Year Built
1991
Price
$3,051,383 CAD
Price Per SF
$1,134.34 CAD
Cap Rate
6.50%
NOI
$198,340 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.65 AC
Zoning
TN-TBA
Parking
28 Spaces (10.41 Spaces per 1,000 SF Leased)
Frontage
77’ on Michigan St
Amenities
- Pylon Sign
- Drive Thru
Property Taxes
| Parcel Number | 41-14-29-126-005 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $848,467 CAD |
Property Taxes
Parcel Number
41-14-29-126-005
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$848,467 CAD
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