Listed by Fortis Net Lease
$2,795,000
Red Robin - Lansing, MI
Details
Property Type Retail
Sub Type Restaurant
Square Footage 6,893
Cap Rate 5.50%
NOI $153,731
Tenancy Single
Lease Type Absolute NNN
Lease Term 17.5
Lease Expiration 01/31/2044
Remaining Term 17.5
Rent Bumps Yes
Price per SqFt $405
Year Built 2003
Acreage 2.560
Zoning C
Investment Type Net Lease
Lease Commencement 11/11/2002
Ground Lease Yes
Retail | 5.50% CAP | 6,893 SqFt
Marketing description
Fortis Net Lease is pleased to present a prime investment opportunity in Lansing, MI: 6524 W Saginaw Hwy. This well-maintained 6,893 SF building, constructed in 2003 and zoned C, offers an ideal canvas for retail/restaurant investment. With a versatile layout and modern infrastructure, the property presents a lucrative opportunity for entrepreneurial ventures. Strategically situated in the thriving Lansing area, this highly visible location ensures maximum exposure for potential business endeavors. Discover the potential of this dynamic property, tailored for ambitious retail and restaurant investors seeking to establish a prominent presence in a strategically located commercial space.
Investment highlights
- Strong Operator/Guarantor | Excellent Sales
- Sub 6% Rent-To-Sales Ratio
- 10% Rent Bumps Every 5 Years (Next in Jan 2029)
- Outparcel to Kohl's and Kroger
- 22 Year Occupancy
- Tenant Exercised All 3 Remaining Lease Extensions In Return For Additonal 10 Year Term Renewal Options
Listing Contacts
Listed by Fortis Net Lease
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$153,731.00
$12,810.92/mo
Valuation Metrics
0
DSCR
5.5%
Cap Rate
5.5%
ROI
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