Chick-Fil-A Ground Lease

504 North Drake Road, Kalamazoo, MI

$3,300,000

Price

4,996 sqft

Building Size

1.25 acres

Lot Area

Gallery
Street
Map
Overview
Building Size
4,996 sqft
Lot Area
1.25 acres
Occupancy
100%
Year Built
2020
Description

Jonna Group is proud to present the Chick-Fil-A Ground Lease retail property at the corner of Drake Road and Main Street, which offers investors an exceptional opportunity for stable, long-term income in a thriving commercial district.

This investment provides consistent income growth potential. The property's proximity to major retailers, substantial consumer spending, and nearby educational institutions further solidify its attractiveness to potential tenants.

Kalamazoo | Michigan

Highlights
  • $165,000 NOI | 4.85% CAP Rate
  • Absolute NNN (Ground Lease)
  • Hard Corner: Drake Road & Main Street | 42,613 VPD
  • Rare 20-Year Lease Term | 16.5 Years Remaining
  • Scheduled Rental Increases Throughout Initial Term & at the Beginning of Each Option Period
  • Situated in a Commercially Developed Business District
  • Nearby Retailers: Walgreens, Taco Bell, Verizon, Five Guys, Panera Bread, Tim Hortons, Fifth Third Bank, Comerica Bank, PNC Bank, AT&T, ALDI, Chipotle Mexican Grill, Starbucks, Target, Tropical Smoothie Café & Many More…
  • $136M+ Spent on Food Away from Home in 5-Mile Radius
  • Near 2 Major Universities: Western Michigan University & Kalamazoo Valley Community College
Location
Gallery