2479 Hill RdFlint, MI 48507

Property Details for 2479 Hill Rd

Lot size

2.62 AC

Property size (Sq ft)

1,895 SF

Zone code

C-3

Property type

Drive through restaurants

APN

15-11-100-009

APU

1511100009

Description

This fee-simple ownership opportunity presents a newly constructed, 2,289 square-foot Starbucks in Flint, Michigan. The property boasts a 10-year net lease with four 5-year renewal options, providing long-term stability and minimal landlord responsibilities. The lease is corporately guaranteed by Starbucks, a credit-rated entity. Located on West Hill Road (16,400+ vehicles per day), this property benefits from high visibility and excellent access, situated across from a Meijer and near other national retailers. The 0.54-acre lot features drive-thru accessibility and outdoor seating. Rent increases by $2.00 per square foot every five years. The building, constructed in 2023, offers a 6.00% cap rate and a strong NOI of $107,583. Its proximity to US Highway 23 and Bishop International Airport further enhances its investment appeal. The asking price is $1,793,050, translating to $783.33 per square foot. This represents a compelling investment opportunity with significant upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $476,870

  6.5%

  $440,187

  7%

  $408,745

• Comparable approach

  Method

  Valuation

  Relative Method

  $446,691

  Geo Method

  $446,691

• Alternative Use

  Use

  Valuation

  Residential

  $371,315

  Hospitality

  $340,122

  Educational

  $282,978

  Medical

  $292,710

  Retail

  $440,187

Location Insight

City

Flint

County

Genesee

State

Michigan

Latitude

42.9435

Longitude

-83.7302

CBSA code

22420

CBSA name

FLINT, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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