Jimmy John's Sale Lease Back

Expired Retail-Commercial for Sale
Catylist Listing ID: 30507185
Property Subtypes: Free-Standing Building, Street Retail
Building Size (RSF): 1,582 SF
Gross Building Area: See Agent
Sale Price: $1,000,000
Unit Price: $632.11 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 6.75%
Average Occupancy Rate: 100
Last Updated: 11/13/2019

Overview / Comments

Colliers International | West Michigan is pleased to present this outstanding investment opportunity to acquire a newly constructed, single tenanted, triple net retail building occupied by a credit worthy tenant. Current ownership owns and operates a compilation of five Jimmy John’s locations in the area with great success. The franchisee is looking to do a 7-year sale leaseback with the terms referenced in the rent roll. (Also open to doing a 10-year sale leaseback)

The subject property resides on one of the region’s premiere retail corridors along 28th street. The location boasts an annual average daily traffi c count of nearly 28,000. The property also features excellent visibility, a drive-thru, ample surface parking, as well as being newly constructed in 2015. In addition, the building is currently 100% occupied and tenanted by Jimmy Johns, a national fast food franchise.

Additional Details

Nearest MSA: Grand Rapids-Kentwood
County: Kent
Submarket/Township: 28th Street West
Tax ID/APN: 41-17-10-379-015
Zoning: B2, GENERAL BUSINESS
Tenancy: Single Tenant

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 13,795 99,972 272,302
Median Age: 31.8 31.61 32.7
Households: 5,476 35,689 103,154

Contact

Photograph of Listing Agent

Michael Visser

Colliers International
CARWM Member
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