About This Restaurant
Investment Highlights
Executive Summary
NorthStar is pleased to present a single-tenant restaurant as a sale-leaseback investment opportunity. This property which was constructed in 2004, was renovated in 2020 with a new kitchen addition spans 7,829 sq ft on 1.7 acres. In 2024, the building is undergoing another renovation for new concept. The restaurant is positioned a quarter mile from I-196, and just 1.3 miles from Rivertown Crossings Mall. Sitting in a highly visible location on Canal, the building benefits ~10k vehicles per day on Canal and ~30K from the adjacent Rivertown Pkwy.
Property Details
- Sale Type Investment NNN
- Sale Condition Sale Leaseback
- Property Type Retail
- Property Subtype Restaurant
- Building Size 7,829
- Building Class B
- Year Built/Renovated 2001/2024
- Price 3,284,914
- Price Per SF 420
- Cap Rate 7
- NOI 229,944
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.11
- Land Acres 1.70 AC
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signage
Nearby Amenities & Transportation
| Retail | Logan's Roadhouse | ||
| Retail | Texas Roadhouse | ||
| Retail | Bank of America | ||
| Retail | Fit Body Boot Camp | ||
| Retail | WW | ||
| Retail | Huntington Bank | ||
| Retail | Starbucks | ||
| Retail | Family Fare Supermarket | ||
| Retail | Planet Fitness | ||
| Retail | Fifth Third Bank |
Property Taxes
| Parcel Number | 41-17-30-100-072 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $809,200 |
| Date Created: | 2024-07-16 04:16:19 | Last Updated: | 2024-07-16 04:16:19 |
| Address: | 4505 Canal Ave SW , Grandville, Michigan, 49418 | ||