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Restaurant

Long John Silver's

1865 28th St SW, Wyoming, MI 49519

Listing Price: $1,008,270

Cap Rate
5.25%
Tenant Name
Long John Silver's
Years Remaining On Lease
10.9
Guarantor
Corporate Guarantee
Rentable SF
1,792
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.54

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an Art Van Furniture Marcus & Millichap is pleased to present the exclusive listing for a Long John Silver’s located at 1865 28th Street SW, Grand Rapids, MI, 49519. The site constructed in 1980, consists of roughly 1,792 rentable square feet of building space on estimated 0.89 acre parcel of land. This Long John Silver’s is subject to a long term, 15-year triple-net (NNN) lease, which commenced on May 17, 2018. The annual rent is $48,122. There are two (2), five (5)-year tenant renewal options.

Investment Highlights

  • Long-Term, 15-Year Absolute Triple Net (NNN) Lease | Approximately 11 Years Remaining
  • Attractive Rental Increases of 10% Every Five (5)-Years
  • Corporate Tenant | Corporate Guarantee

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Restaurant

Long John Silver's

Listing Price: $1,008,270

Cap Rate
5.25%
Tenant Name
Long John Silver's
Years Remaining On Lease
10.9
Guarantor
Corporate Guarantee
Rentable SF
1,792
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$29.54

Investment Highlights

  • Long-Term, 15-Year Absolute Triple Net (NNN) Lease | Approximately 11 Years Remaining
  • Attractive Rental Increases of 10% Every Five (5)-Years
  • Corporate Tenant | Corporate Guarantee

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for an Art Van Furniture Marcus & Millichap is pleased to present the exclusive listing for a Long John Silver’s located at 1865 28th Street SW, Grand Rapids, MI, 49519. The site constructed in 1980, consists of roughly 1,792 rentable square feet of building space on estimated 0.89 acre parcel of land. This Long John Silver’s is subject to a long term, 15-year triple-net (NNN) lease, which commenced on May 17, 2018. The annual rent is $48,122. There are two (2), five (5)-year tenant renewal options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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