Homes for sale - 1380 Wright Avenue, Alma, MI 48801

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Stacy Allman

stacy@mipropertiesnorth.com +1(231) 944-5296

Listed by Micah Kemler • 43 NORTH REALTY

$ 699,000

Est. payment | -/mo

1,866 SqFt

Save

$ 699,000

Est. payment | -/mo

Save

1,866 SqFt

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

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Stacy Allman

Broker/Owner | Lic# 6502433438

stacy@mipropertiesnorth.com

+1(231) 944-5296

108 E Main St Kinglsey MI 49649

1380 Wright Avenue Alma, MI 48801

Stacy Allman

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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1380 Wright Avenue