Aldi Groundlease - Lowell, MI (Price Reduced)
Just Opened | 5.00% CAP | 22,000 SqFt
Marketing description
CBRE is pleased to exclusively offer this newly constructed Aldi grocery store investment property to qualified buyers. This is an absolute-net, ground-leased Aldi with an initial term of twenty (20) years. The rent escalates following the 10th year of the initial term as well as at the commencement of each renewal period. The purchase price is well below the replacement value of the land and improvements.
Aldi is operating from an attractive, new masonry building of the latest prototype. Lowell is an attractive bedroom community situated outside of Grand Rapids, MI.
This investment property is being offered at an asking price of $2,340,000 (5.00% capitalization rate).
Investment highlights
PROPERTY ADDRESS 11755 Fulton St E. Lowell, MI
TOTAL BUILDING AREA 22,000 SF
LAND AREA 1.83 Acres
SIGNAGE Storefront signage and pylon sign on Fulton St.
GROUNDLEASE TERM Twenty (20) Years
GROUNDRENT $117,000 Annually
GUARANTOR Aldi, Inc (Michigan)
PARKING Approximately 84 spaces
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