436 Main StLapeer, MI 48446

Property Details for 436 Main St

Year built

1976

Lot size

1.06 AC

Property size (Sq ft)

2,431 SF

Zone code

B2 GEN

Property type

Drive through restaurants

APN

L21-55-800-040-00

APU

L215580004000

Description

This exceptional investment opportunity presents a Wendy's restaurant located at 436 S Main St, Lapeer, MI 48446. The property boasts a 2,273 square foot building situated on a 0.95-acre lot. The property is subject to a 20-year absolute triple-net (NNN) lease, originally commencing July 1, 2015, and expiring June 30, 2035, leaving approximately 10.6 years remaining on the base term. The current annual net operating income (NOI) is $119,070, representing a 5.85% cap rate based on the asking price of $2,035,384. The lease includes a 5% rent increase every five years throughout the base term and two 5-year renewal options. Built in 1976, this single-story building enjoys 100% occupancy. The tenant is Wendy's, subleased to WEN NATIONAL, LLC, a Wendy's operator with 40+ units. This Wendy's location has operated successfully for over 45 years, providing a strong track record and demonstrating the enduring appeal of this established quick-service restaurant. The property offers a compelling combination of long-term lease stability, consistent cash flow, and a proven operational history, making it an attractive addition to any investment portfolio. The property is offered at $895.46 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $611,752

  6.5%

  $564,694

  7%

  $524,359

• Comparable approach

  Method

  Valuation

  Relative Method

  $573,037

  Geo Method

  $573,037

• Alternative Use

  Use

  Valuation

  Residential

  $476,341

  Hospitality

  $436,326

  Educational

  $363,018

  Medical

  $375,502

  Retail

  $564,694

Location Insight

City

Lapeer

County

Lapeer

State

Michigan

Latitude

43.0466

Longitude

-83.3199

CBSA code

19820

CBSA name

DETROIT-WARREN-LIVONIA, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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