1380 Wright Avenue Active Save Request In-Person Tour Request Virtual Tour
Alma,MI 48801
Key Details
Property Type Commercial
Sub Type Retail/Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 1,866 sqft
Price per Sqft $374
Subdivision Mi
MLS Listing ID 1928737
Year Built 1980
Lot Size 0.560 Acres
Acres 0.56
Lot Dimensions 140 x 175
Property Sub-Type Retail/Commercial
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
Zoning Commercial
Rooms
Basement Slab
Interior
Heating Forced Air
Cooling Forced Air
Exterior
Exterior Feature Brick
Roof Type Asphalt
Present Use Restaurant/Food Service
Road Frontage Public Maintained,Blacktop
Total Parking Spaces 32
Building
Sewer Municipal
Water Municipal Water
Others
Tax ID 51-341-013-30
Ownership Corporate Owned
Acceptable Financing Conventional Mortgage,Cash,1031 Exchange
Listing Terms Conventional Mortgage,Cash,1031 Exchange