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 |
| Zoning: |
COMMERCIAL |
| 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 |
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 |
|
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