McAlister's Deli
Holland, MI
Key Details
| Price: | $2,608,696 |
|---|---|
| Cap Rate: | 5.75% |
| Annual Rent: | $150,000 |
| Address: | 2288 North Park Drive, Holland, Michigan 49424 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Expiration: | 15 Years from Close of Escrow |
| Lease Term Remaining: | 15 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 1.01 Acres |
| Building Size: | 3,616 SF |
| Year Built: | 2009 |
| Year Renovated: | 2024 |
NNN Pro is pleased to present the exclusive listing for a McAlister's Deli located at 2288 North Park Drive, Holland, Michigan 49424. The site consists of roughly 3616 rentable square feet of building space on an estimated 1.01-acre parcel of land. This McAlister's Deli is subject to a 15-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $150,000 and has scheduled increases of 10.00% Every 5 Years.
About the Investment
- Long-Term, 15-Year Absolute Triple Net (NNN) Lease | At closing the tenant will execute a brand new 15-year absolute triple-net lease. The lease will have no landlord responsibilities.
- Attractive Rent Increases | The lease will feature scheduled increases of 10.00% Every 5 Years.
- Strong Franchisee Guarantee | The lease will be subject to a strong franchisee guarantee from Southern Rock Restaurants, LLC. Southern Rock is the largest McAlister's Deli Franchisee, operating 148 restaurants in 12 states
- Compelling Renewal Options | The lease has 3, 5-year renewal options to extend the lease term for an additional 15 years
Key Details
| Price: | $2,608,696 |
|---|---|
| Cap Rate: | 5.75% |
| Annual Rent: | $150,000 |
| Address: | 2288 North Park Drive, Holland, Michigan 49424 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Expiration: | 15 Years from Close of Escrow |
| Lease Term Remaining: | 15 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 1.01 Acres |
| Building Size: | 3,616 SF |
| Year Built: | 2009 |
| Year Renovated: | 2024 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Alexandre Marietto
amarietto@nnnpro.com
License: NY: 10401294047
James Westerberg
jwesterberg@nnnpro.com
License: NY: 10401304686
Howard Curd
hcurd@nnnpro.com
License: NY: 10401339720
Jack McHugh
jmchugh@nnnpro.com
License: NY: 10401389686
Broker of Record
Brian Brockman
Bang Realty-Michigan, Inc
License: 6502428679
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.