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1185 M-89 2,800 SF Retail Building Plainwell, MI 49080 $3,485,533 CAD ($1,244.83 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
$3,485,533 CAD
Price Per SF
$1,244.83 CAD
Cap Rate
6%
NOI
$209,132 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.37 AC
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-019-014-10 | Improvements Assessment | $540,301 CAD |
| Land Assessment | $189,291 CAD | Total Assessment | $729,592 CAD |
Property Taxes
Parcel Number
08-019-014-10
Land Assessment
$189,291 CAD
Improvements Assessment
$540,301 CAD
Total Assessment
$729,592 CAD
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1185 M-89
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