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Cracker Barrel: Grandville, MI 4340 Kenowa Ave SW 9,680 SF Retail Building Grandville, MI 49418 $5,717,968 CAD ($590.70 CAD/SF) 5.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease with Annual Rent Increases
- Top-Visited Location | #3 Cracker Barrel in the State of Michigan
- 10.3 Miles from Downtown Grand Rapids, MI
- Strong Performance | Low Rent-To-Sales Ratio
- Excellent Interstate Access & Visibility | I-196 (50,267 VPD)
- Grand Rapids-Wyoming-Kentwood, MI MSA (Population: 1.17M+)
EXECUTIVE SUMMARY
The CBRE Net Lease Property Group is pleased to offer for sale the 9,680-square-foot Cracker Barrel Old Country Store positioned on 3.60 acres in Grandville, Michigan — part of the Grand Rapids-Wyoming-Kentwood, MI MSA (MSA Population: 1.17M+). Cracker Barrel's absolute NNN lease features ±14.9 years of primary term remaining with 1% annual rent increases throughout the remainder of the term and in each of the ten, 5-year renewal options (six fixed renewal terms, followed by four FMV renewal terms).
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Restaurant
Building Size
9,680 SF
Building Class
C
Year Built
1997
Price
$5,717,968 CAD
Price Per SF
$590.70 CAD
Cap Rate
5.75%
NOI
$328,782 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
3.60 AC
Zoning
C-5
Parking
154 Spaces (15.91 Spaces per 1,000 SF Leased)
Frontage
126’ on Kenowa Ave
AMENITIES
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 41-17-19-351-012 | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $1,288,042 CAD |
PROPERTY TAXES
Parcel Number
41-17-19-351-012
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,288,042 CAD
CONTACTS
-
Brian Pfohl -
Thomas Carr -
Christopher Bosworth -
Anne Rahm -
Kaitlyn Wolf -
Leah Lindell -
Abby Kelly -
CBRE
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Cracker Barrel: Grandville, MI | 4340 Kenowa Ave SW
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