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Electronics

Verizon Absolute NNN | Early Lease Renewal

45111 Park Ave, Utica, MI 48315

Listing Price: $2,985,000

Cap Rate
6.50%
Tenant Name
Verizon Wireless
Years Remaining On Lease
4.9
Gross SF
4,572
Guarantor
Corporate Guarantee
Rentable SF
4,572
Price/Gross SF
$652.89
Lease Type
Absolute Net
Rent Per Square Feet
$42.43

Investment Overview

The Gross Retail Group is pleased to exclusively present this extremely rare absolute NNN Corporate Verizon investment opportunity. This is a top performing store which recently exercised their fourth five year option at this property early. Verizon also invested more than $40,000 on a 20 foot Pylon Sign at this location, showing renewed long-term commitment to the store. The property is situated on an oversized 1.25 Acre Lot with ample parking of 7.38/1,000 SF. It benefits from being located on a robust retail corridor with visibility to more than 111,000 cars/day and close proximity to a number of national retailers including: Sam's Club, Home Depot, Target, At Home, Bed Bath & Beyond and many more.

Investment Highlights

  • Absolute NNN Lease with Zero Landlord Responsibilities
  • Exercised 5 Year Renewal Early- Top Performing Store with 25 Year Operating History
  • Corporately Guaranteed Verizon Lease- $131 Billion in Revenue 2018

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Electronics

Verizon Absolute NNN | Early Lease Renewal

Listing Price: $2,985,000

Cap Rate
6.50%
Tenant Name
Verizon Wireless
Years Remaining On Lease
4.9
Gross SF
4,572
Guarantor
Corporate Guarantee
Rentable SF
4,572
Price/Gross SF
$652.89
Lease Type
Absolute Net
Rent Per Square Feet
$42.43

Investment Highlights

  • Absolute NNN Lease with Zero Landlord Responsibilities
  • Exercised 5 Year Renewal Early- Top Performing Store with 25 Year Operating History
  • Corporately Guaranteed Verizon Lease- $131 Billion in Revenue 2018

Investment Overview

The Gross Retail Group is pleased to exclusively present this extremely rare absolute NNN Corporate Verizon investment opportunity. This is a top performing store which recently exercised their fourth five year option at this property early. Verizon also invested more than $40,000 on a 20 foot Pylon Sign at this location, showing renewed long-term commitment to the store. The property is situated on an oversized 1.25 Acre Lot with ample parking of 7.38/1,000 SF. It benefits from being located on a robust retail corridor with visibility to more than 111,000 cars/day and close proximity to a number of national retailers including: Sam's Club, Home Depot, Target, At Home, Bed Bath & Beyond and many more.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

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