$699,000
1380 Wright Avenue Alma, MI 48801
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$699,000
Est. payment /mo
1,866 SqFt
Active
1380 Wright Avenue Alma, MI 48801
UPDATED:
11/06/2024 03:06 PM
Key Details
Property Type Commercial
Sub Type Commercial/Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 1,866 sqft
Price per Sqft $374
Subdivision Mi
MLS Listing ID 80052171
Year Built 1980
Annual Tax Amount $8,667
Lot Size 0.560 Acres
Acres 0.56
Lot Dimensions 140 x 175
Property Description
Prime Investment Opportunity: Commercial Property with Triple Net Leases Investors, take note of this exceptional opportunity to own a commercial property with secure, long-term income from two established tenants. This low-maintenance investment generates over $42,000 annually, with both tenants on triple net (NNN) leases, minimizing landlord responsibilities to only the structural portions of the roof, exterior, and load-bearing walls. Property Highlights: 1. Tenant 1: Quick-Service Pizza Restaurant & Fast-Food Delivery Lease Details: In place through 2028, with options to renew, ensuring consistent and reliable rental income. Income: $30,000 per year with scheduled rent increases, adding future value. Business: Thriving quick-service model with steady foot traffic and delivery operations, a staple in the local community. 2. Tenant 2: Digital Advertising Company Lease Details: A remarkable 40-year lease, guaranteeing income security for decades. The digital advertising sign features continuous scrolling marketing, driving high visibility for local businesses. Income: $12,000 per year with scheduled increases, further boosting long-term revenue potential. Signage: Strategically positioned to maximize exposure, benefiting from consistent demand for advertising space. This commercial property offers an ideal investment for buyers seeking a solid return with minimal management demands. With long-term leases and built-in rent escalations, it promises stable cash flow and appreciation potential. Don’t miss this chance to add a high-yield, hassle-free asset to your portfolio! Contact your Realtor for more details and to schedule a viewing.
Location
State MI
County Gratiot
Area Alma (29017)
Zoning Commercial
Interior
Heating Forced Air
Exterior
Garage 21+ Spaces, Parking Lot
Roof Type Asphalt
Building
Foundation Slab
Water Public Water
Structure Type Brick,Frame
Others
Ownership Corporation
Energy Description Natural Gas
Financing Cash,Conventional,Exchange/Trade
Provided through IDX via MiRealSource. Courtesy of MiRealSource Shareholder. Copyright MiRealSource.
Listed by 43 NORTH REALTY
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