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Wendy's 1185 M-89 2,800 SF Retail Building Plainwell, MI 49080 $3,462,253 CAD ($1,236.52 CAD/SF) 6% Cap Rate
Investment Highlights
- Brand-New 20-Year Triple Net (NNN) Lease
- Scheduled Annual Rent Increases
- Strong National Tenant – Wendy’s
- Remodeled Freestanding Building
Executive Summary
Surmount is pleased to present the exclusive listing for a Wendy's located at 1185 M-89, Plainwell, MI 49080. The site consists of roughly 2,800 rentable square feet of building space on an estimated 1.37-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 $154,000 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
2,800 SF
Building Class
C
Year Built/Renovated
1960/1986
Price
$3,462,253 CAD
Price Per SF
$1,236.52 CAD
Cap Rate
6%
NOI
$207,735 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.37 AC
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-019-014-10 | Improvements Assessment | $530,637 CAD |
| Land Assessment | $185,906 CAD | Total Assessment | $716,542 CAD |
Property Taxes
Parcel Number
08-019-014-10
Land Assessment
$185,906 CAD
Improvements Assessment
$530,637 CAD
Total Assessment
$716,542 CAD
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Wendy's | 1185 M-89
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