4700 S Cedar Street, Lansing, MI 48910
Triple Net Investment Group is pleased to present an opportunity to purchase an Absolute Net Ground Lease McDonalds in Lansing Michigan. The building is 3409 square feet and is situated on approximately 1.01 acres of land. The subject property (store #14) was one of the first McDonald’s to open as evidenced by the store number and the signatory of the original lease; Ray Kroc, founder. Nearby restaurants and retailers include: Little Caesar’s, Subway, Kmart, AutoZone, Sprint, Family Dollar, Walgreen’s, and O’Reilly Auto Parts.
This McDonalds is subject to a 20-year triple-net (NNN) ground lease. Current annual rent is $116,174. The rent has attached to it an attractive monthly 4.25% of monthly gross sales on a break-point to hedge against inflation. There is no cap or ceiling to this figure. Property includes four, five-year tenant evergreen renewal options .
- 58 Years history at current location, store number 14
- Absolute triple-net (NNN) ground lease, with 20 years remaining followed by 4, 5-year evergreen option terms.
- The lease is backed by McDonalds Corporation through-out the term of the lease.
- Monthly percentage rental override equal to 4.25% of gross sales in excess of $227,792, providing investors with a strong hedge against inflation.
- Building size 3,409 sq ft / Lot Size 1.01 acres