Take 5 Oil Change
1,763 SF | Retail Building | Muskegon, MI 49444 | $2,140,000 ($1,214/SF) | 6.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $2,140,000
- Property Type
-
Retail
- Square Feet
- 1,763 SF
- Price / Square Foot
- $1,214
Listing Contacts
John Andreini
Verified Profile
Kirby Dederian
Verified Profile
Ryan Schulten
Verified Profile
- Property Info
Property Overview
A 15-year absolute NNN Take 5 featuring 7.5% rental increases every 5 years in the base term and throughout the eight option periods. Subject property serves as a main outparcel to The Lakes Mall with direct ingress/egress from Harvey Street (22,875 VPD) and exposure to the 3.2M annual visitors of the shopping center (per Placer.ai).
Property Details
- Class
- C
- Year Built
- 2024
- Stories
- 1
- Property Subtype
- Vehicle Related, Freestanding
- Lot Size (sq. ft)
- 43,560 SF
Highlights
- 15-year absolute net lease with rental increases every 5 years
- 2024 build-to-suit construction to tenant’s latest prototype
- Outparcel to The Lakes Mall with direct ingress/egress from Harvey Street – 22,875 VPD
- The Lakes Mall is a 645,000 SF regional mall subject to 3.2M annual visitors, which ranks in the 90th percentile of malls in Michigan per Placer.ai
- Experienced Take 5 operator that previously worked for Take 5 corporate for 20 years (16-unit franchisee with locations in IL and MI)
- Zero maintenance/expense obligations for the landlord making this a truly “hands-off” investment
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