3514 Saginaw StBurton, MI 48529
- Commercial real estate
- 652 SF
Property Details for 3514 Saginaw St
- Year built
- 1990
- Lot size
- 0.90 AC
- Property size (Sq ft)
- 652 SF
- Property type
- Commercial real estate
- APN
- 59-30-578-011
- APU
- 5930578011
Description
This exceptional investment opportunity presents a fee-simple ownership of a Checkers & Rally's fast-food restaurant in Burton, Michigan. The property, totaling 651 square feet on a 0.9-acre lot, is situated at a high-traffic, hard-corner location on Saginaw Street, benefiting from excellent visibility and accessibility. A new 15-year absolute NNN lease is in place with a highly experienced franchisee operating a significant number of units across multiple brands, ensuring consistent cash flow. The lease features a base rent of $96,000 annually, with a 10% rent increase every five years, providing built-in growth potential. The property boasts a 6.00% cap rate and a strong NOI of $96,000. Built in 1994, this single-story building is zoned commercial and enjoys 100% occupancy. The location benefits from proximity to other major retailers including Rite Aid, Speedway, Subway, McDonald's, Kroger, and Tim Horton's, as well as Bendle Middle and High Schools. Four, five-year renewal options are included in the lease agreement, further enhancing the long-term value of this investment. This sale-leaseback transaction offers a secure, passive income stream with significant upside potential. The property's strong location, experienced tenant, and favorable lease terms make it an attractive investment for discerning buyers.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $127,756
- Hospitality
- $117,024
- Educational
- $97,362
- Medical
- $100,711
- Retail
- $151,452
Location Insight
- City
- Flint
- County
- Genesee
- State
- Michigan
- Latitude
- 42.9749
- Longitude
- -83.6735
- CBSA code
- 22420
- CBSA name
- FLINT, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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