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1024 E. Grand River Avenue East Lansing, MI 48823
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PROPERTY SUMMARY
Triple Net Investment Group is pleased to present an opportunity to purchase a NNN Ground lease McDonald’s located in East Lansing, MI 48823. McDonald recently signed a new 20 years lease extension with 4.25% percentage override and 4, 5 years options. McDonald recently remodeled with MSU Spartan athletics theme .
The original lease commenced November 1, 1958. The Golden Arches have a continuous 59-year operating history at this location. 2016 store sales has been about $2.7m and McDonald breakpoint to pay 4.25% percentage rent is at $2,702,141.16/year . 2017 gross sales up 10% YTD over 2016. Original lease signed by McDonald’s founder Ray Kroc.
PROPERTY HIGHLIGHT
- Original lease signed by McDonald’s founder Ray Kroc
- 59 years Continuous operation as McDonald’s
- 20 years lease extension with 4.25% percentage override
- Adjoining Michigan State University and its 50,344 students
- McDonald’s corporate NNN lease
- Recently remodeled with MSU Spartan athletics theme
- High store sales plus 4.25% percentage rent
- Rare, 2-story McDonald’s with elevator and 2nd floor seating