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Electronics

Best Buy

4611 24th Ave, Fort Gratiot Township, MI 48059

Listing Price: $3,690,000

Cap Rate
8.25%
Tenant Name
Best Buy
Years Remaining On Lease
1.8
Gross SF
46,854
Guarantor
Corporate Guarantee
Rentable SF
46,854
Price/Gross SF
$78.76
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$6.50

Investment Overview

The subject property is a 46,854 square foot Best Buy that opened in 1994 on a 15-year triple net lease. Current rent is $6.50 per square foot, NNN. Best Buy’s current option expires March 31, 2023 with one 3- year option at a rental rate of $7.00 per square foot, NNN. Landlord is responsible for roof and structure.

Investment Highlights

  • 25+ Year Operating History
  • Rent Below $7.00 per Square Foot- NNN
  • Near Walmart, Meijer & Hobby Lobby

Exclusively Listed By

Listing Price: $3,690,000

Cap Rate
8.25%
Tenant Name
Best Buy
Years Remaining On Lease
1.8
Gross SF
46,854
Guarantor
Corporate Guarantee
Rentable SF
46,854
Price/Gross SF
$78.76
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$6.50

Investment Highlights

  • 25+ Year Operating History
  • Rent Below $7.00 per Square Foot- NNN
  • Near Walmart, Meijer & Hobby Lobby

Investment Overview

The subject property is a 46,854 square foot Best Buy that opened in 1994 on a 15-year triple net lease. Current rent is $6.50 per square foot, NNN. Best Buy’s current option expires March 31, 2023 with one 3- year option at a rental rate of $7.00 per square foot, NNN. Landlord is responsible for roof and structure.

Exclusively Listed By

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