Domino's
Single Tenant Retail
Marketing description
Domino’s at 206 Cypress St, Manistee, MI 49660 offers investors the opportunity to acquire a recently renovated single-tenant retail asset in one of Northern Michigan’s most desirable Lake Michigan communities. Positioned along Manistee’s primary retail corridor near US-31, the property benefits from strong visibility, convenient access, and proximity to national and regional retailers.
Retrofit to Domino’s specifications in 2023, the 1,332 SF building features a new roof, new HVAC system, and a drive-thru window designed to support high customer convenience and sales efficiency. Domino’s executed a 15-year double net lease commencing June 2023, providing approximately 12 years of remaining term and 2% annual rent increases that deliver built-in income growth. The lease structure offers minimal landlord responsibilities, with the tenant responsible for taxes, insurance, and day-to-day maintenance.
The location has already demonstrated strong performance, with a rent-to-sales ratio below 5%, reinforcing long-term operating strength. Situated in a popular summer destination known for its beaches, tourism, and draw from Little River Casino & Hotel, this asset combines durable cash flow, recent capital improvements, and a strategic retail location.
Investment highlights
- 12 Years Remaining on Initial 15 Year Lease Term - Provides long-term lease stability.
- 2% Annual Rental Increases - Built in rent-growth creates compounding income increases over time to hedge against inflation and create property value.
- Rent to Sales Ratio Below 5% - A low rent to sales ratio suggests the location is financially strong for the tenant.
- Drive-Thru Equipped Building - The drive-thru adds convenience for customers and supports strong sales volume.
- Retrofit to Tenant's Specs in 2023 - Recent upgrades tailored to the tenant reduce near-term capital needs.
- New Roof, HVAC, and Drive Thru
- Located on Manistee's Main Retail Thoroughfare - This prime location offers excellent access and strong retail positioning nearby all of the national and regional tenants.
- Coveted Northern Michigan Summer Destination - The area benefits from seasonal tourism that boosts customer traffic and sales.
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