Fazoli's NNN Land Lease

5705 S. Cedar Street Lansing, MI 48911

Description

Pure triple net land lease. 21 years in business with 14 years remaining on existing lease term. Building remodeled Spring 2016. All new asphalt and concrete installed July 2016. 7% Cap rate applied to weighted average NNN rent for remainder of original lease term. E. side of S. Cedar Street north of I-96 interchange between E. Miller and E. Jolly Roads.

 

Highlights

  • Pure Triple Net
  • 3, 5-year Options to Renew at Full CPI Increase
  • 2.5% to Selling Broker
Property: 
1.38 AC
Building Size: 
3,750 SF
Sale Price: 
$880,285
Property Category: 
Investment Properties