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Restaurant

Taco John's

4029 32nd Ave, Hudsonville, MI 49426

Listing Price: $2,666,667

Cap Rate
5.40%
Tenant Name
Meritage Hospitality Group
Years Remaining On Lease
19.7
Guarantor
Corporate Guarantee
Rentable SF
2,106
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$68.38

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Taco John’s located at 4029 32nd Avenue in Hudsonville, MI. The property consists of approximately 2,106 square feet of space and is situated on approximately 1.56 acres of land. The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the day following the close of escrow. The lease will call for rental increases that will be the lesser of the change in CPI or 1.25% annually starting in Year 3. The rental increases will continue through the base term and into the six, five-year tenant renewal options. The lease will carry a guaranty from Meritage Hospitality Group, an experienced 345+ unit operator and the largest franchisee in the Taco John’s system.

Investment Highlights

  • Brand New 20-Year Sale-Leaseback
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases | Lesser of Change in CPI or One and a Quarter Percent (1.25%) Annually Starting in Year 3

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

Taco John's

Listing Price: $2,666,667

Cap Rate
5.40%
Tenant Name
Meritage Hospitality Group
Years Remaining On Lease
19.7
Guarantor
Corporate Guarantee
Rentable SF
2,106
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$68.38

Investment Highlights

  • Brand New 20-Year Sale-Leaseback
  • Triple Net (NNN) Lease with Zero Landlord Responsibilities
  • Attractive Rental Increases | Lesser of Change in CPI or One and a Quarter Percent (1.25%) Annually Starting in Year 3

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Taco John’s located at 4029 32nd Avenue in Hudsonville, MI. The property consists of approximately 2,106 square feet of space and is situated on approximately 1.56 acres of land. The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the day following the close of escrow. The lease will call for rental increases that will be the lesser of the change in CPI or 1.25% annually starting in Year 3. The rental increases will continue through the base term and into the six, five-year tenant renewal options. The lease will carry a guaranty from Meritage Hospitality Group, an experienced 345+ unit operator and the largest franchisee in the Taco John’s system.

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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