NNN Sale Leaseback - Hardee's Franchisee - Long Term Lease

Retail-Commercial for Sale
Catylist Listing ID: 30840300
Property Subtypes: Restaurant
Building Size (RSF): 4,500 SF
Gross Building Area: See Agent
Gross Land Area: 0.98 SF
Sale Price: $1,300,000
Unit Price: $288.89 PSF
Has Drive-Thru? Yes
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 6.5%
Last Updated: 5/22/2023

Overview / Comments

Single site sale/leaseback opportunity. 20 year NNN lease with 10% increase every 5 years. Minimum base rent of $7,000 at 6.5% cap rate. 1+/- acre, corner parcel, high traffic intersection, 4,500 SF freestanding building including a drive-thru. NNN leaseback to established Hardee's franchisee. Building was built in 1990 and renovated in 2018.

Lot & business to be sold in-conjunction.

Additional Details

Nearest MSA: Lansing-East Lansing
County: Shiawassee
Tax ID/APN: 050-666-000-052-00
Retail Clientele: General, Family, Business, Traveler, Tourist
Largest Nearby Street: E Main Street & Dewey St
Feet of Frontage: 280
Traffic/Vehicle Count: 15,953
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 4,500 SF
Property Condition: Excellent
Year Built: 1990
Year Renovated: 2018
Parking Type: Surface

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 10,871 24,597 27,987
Median Age: 35.06 37.94 38.65
Households: 4,335 10,006 11,374


Photograph of Listing Agent

Stephanie L Gilezan

EXP Realty LLC KCREA Member
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