Jimmy John's Sale Lease Back

Retail-Commercial for Sale
Sale Pending
Catylist Listing ID: 30507185
Property Subtypes: Free-Standing Building, Street Retail
Status: Pending
Building Size (RSF): 1,582 SF
Gross Building Area: See Agent
Sale Price: $1,080,000
Unit Price: $682.68 PSF
Property Use Type: Net Leased Investment (NNN)
Sale Terms: Cash to Seller
Cap Rate: 6.25%
Average Occupancy Rate: 100
Last Updated: 4/6/2020

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 15-year sale leaseback with the terms referenced in the rent roll.

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
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


Photograph of Listing Agent

Michael Visser

Colliers International
CARWM Member
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