1380 Wright Avenue Active Save Request In-Person Tour Request Virtual Tour
Alma,MI 48801
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 1,866 sqft
Price per Sqft $374
MLS Listing ID 79080052171
Year Built 1980
Annual Tax Amount $8,667
Lot Size 0.560 Acres
Property Description
Prime Investment Opportunity: Commercial Property with Triple Net Leases Investors, take note of this exceptional opportunity to own a commercial property with secure, long-term income from two established tenants. This low-maintenance investment generates over $42,000 annually, with both tenants on triple net (NNN) leases, minimizing landlord responsibilities to only the structural portions of the roof, exterior, and load-bearing walls. Property Highlights: 1. Tenant 1: Quick-Service Pizza Restaurant & Fast-Food Delivery Lease Details: In place through 2028, with options to renew, ensuring consistent and reliable rental income. Income: $30,000 per year with scheduled rent increases, adding future value. Business: Thriving quick-service model with steady foot traffic and delivery operations, a staple in the local community. 2. Tenant 2: Digital Advertising Company Lease Details: A remarkable 40-year lease, guaranteeing income security for decades. The digital advertising sign features continuous scrolling marketing, driving high visibility for local businesses. Income: $12,000 per year with scheduled increases, further boosting long-term revenue potential. Signage: Strategically positioned to maximize exposure, benefiting from consistent demand for advertising space. This commercial property offers an ideal investment for buyers seeking a solid return with minimal management demands. With long-term leases and built-in rent escalations, it promises stable cash flow and appreciation potential. Don’t miss this chance to add a high-yield, hassle-free asset to your portfolio! Contact your Realtor for more details and to schedule a viewing.
Location
State MI
County Gratiot
Area Alma
Zoning Commercial
Interior
Heating Forced Air
Exterior
Roof Type Asphalt
Building
Foundation Slab
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Brick,Frame
Schools
School District Alma
Others
Acceptable Financing Cash,Conventional,Trade/Exchange
Listing Terms Cash,Conventional,Trade/Exchange
Special Listing Condition Unknown/Data Share Listings