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Wendy's 1061 Michigan St NE 3,500 SF Retail Building Grand Rapids, MI 49503 $4,308,213 CAD ($1,230.92 CAD/SF) 5.50% Cap Rate
Investment Highlights
- 20-Year Triple Net Lease
- Strategic Midtown Location
- Established National Tenant
- Dense Urban Demographics
Executive Summary
Surmount is pleased to present the exclusive listing for a Wendy's located at 1061 Michigan St NE, Grand Rapids, MI 49503. The site consists of roughly 3,500 rentable square feet of building space on an estimated 0.9-acre parcel of land. This Wendy's is subject to a 20-year Triple Net (NNN) lease which will commence upon close of escrow. The annual rent will be $175,000 and has scheduled increases of CPI or 1.50% annually.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,500 SF
Building Class
C
Year Built/Renovated
1976/2016
Price
$4,308,213 CAD
Price Per SF
$1,230.92 CAD
Cap Rate
5.50%
NOI
$236,952 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.09
Lot Size
0.90 AC
Zoning
Commercial - Commercial district zone
Frontage
36’ on Michigan St
Amenities
- Pylon Sign
- Drive Thru
Walk Score®
Very Walkable (86)
Nearby Major Retailers
Property Taxes
| Parcel Number | 41-14-20-382-011 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,304,978 CAD |
Property Taxes
Parcel Number
41-14-20-382-011
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,304,978 CAD
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Wendy's | 1061 Michigan St NE
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