2750 Beltline AveGrand Rapids, MI 49546
- Commercial real estate
- 1,344 SF
Property Details for 2750 Beltline Ave
- Year built
- 1989
- Lot size
- 22.56 AC
- Property size (Sq ft)
- 1,344 SF
- Zone code
- HC-PUD
- Property type
- Commercial real estate
- APN
- 41-14-11-101-085
- APU
- 411411101085
Description
This exceptional investment opportunity presents a fee-simple, ground-leased Chick-fil-A restaurant in Grand Rapids, Michigan. Located at 2750 E Beltline Ave SE, 49546, this single-tenant, Class A property boasts 4,850 square feet and features a double drive-thru. The property sits on one acre of land with 45 parking spaces and benefits from a high-traffic location with 65,900 vehicles passing daily at a four-way intersection. The 20-year absolute NNN lease commenced January 31, 2018, and has 13.2 years remaining, with 10% rent bumps every five years. The current annual net operating income (NOI) is $140,000, resulting in a 4.55% cap rate. The property is an outparcel to The Shops at Centerpoint, a 575,000 square foot power center, and is situated across from Woodland Mall, a major shopping destination. The lease is corporately guaranteed by Chick-fil-A, Inc., a nationally recognized brand with over 3,000 locations. This investment offers a secure, passive income stream with significant long-term growth potential in a densely populated area with strong demographics. The property is within four miles of Gerald R. Ford International Airport and 1.5 miles from Calvin University. The building was constructed in 2018. This is a rare opportunity to acquire a high-performing, well-located Chick-fil-A with a substantial remaining lease term. Asking price is $3,076,900.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
Alternative Use
- Use
- Valuation
- Residential
- $280,971
- Hospitality
- $257,368
- Educational
- $214,127
- Medical
- $221,491
- Retail
- $333,087
Location Insight
- City
- Grand Rapids
- County
- Kent
- State
- Michigan
- Latitude
- 43.0111
- Longitude
- -85.5881
- CBSA code
- 24340
- CBSA name
- GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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