700 Hwy 131
Three Rivers, MI 49093
3,600 SF Retail For Sale
Building Size: 3,600 SF
Property Type: Retail
Property Sub-type: Free Standing Bldg
Property Use: Type Net Lease Investment with 10+ years left on lease
Year Built: 2002
Lot Size: 1.25 AC
The subject investment is a Arby’ s Restaurant located at 700 Highway 131, Three Rivers, Michigan. The property consists of roughly 3,6000 square feet of building space and sits on approximately 1.25 acres of land. It is located on an outparcel of Meijer Supercenter, 3 min from the Three Rivers Hospital and 5 min from Walmart Supercenter. It’ s location along the retail corridors has allowed the current operator to have double digit annual sales increases in the last 3 years of operations. Good rent to sales ratio.
The lease has been extended and there currently are 18.5 years remaining on the Absolute NNN lease that commenced in 2002. The property has an initial cap rate of 6.00 percent. The current rent is $114,000 and is subject to 5 percent increases every five years. There are four, five-year options. This is a franchisee location with a franchise guarantee and a personal guarantee. The operator is based in Indiana and operates 40 Arby’s and Buffalo Wild Wings locations.
Arby’s recently announced US Same-Store-Sales growth of 5.8 percent in the first quarter of 2016. This represents 22 consecutive quarter of Same-Store-Sales growth. See full press release attached.
The subject investment is a Arby’ s Restaurant located at 700 Highway 131, Three Rivers, Michigan. Located 130 miles east of Chicago IL.