- Absolute Triple Net Lease with over 13 years remaining
- 7.49% Average Cap Rate in Base Term
- 2% Annual Rent Increases offers hedge against inflation
- Hard Corner - Signalized Intersection sees over 36,000 VPD
- Corporate Guaranteed Lease - Backed by GPM Investments LLC, a conglomerate with over 3,000 locations under several brands
- Qualifies for Accelerated Depreciation - See tax expert for more details
- Dense Trade Area - Over 115,000 Residents in a 3-mile radius
This freestanding Admiral (Admiral Petroleum Company) is situated on 0.29 acres of land. The Tenant has over 13 years remaining on the base term of the lease. The lease structure offers a hedge against inflation with 2% annual rental increases. The site is located on the signalized intersection of Clyde Parke Ave and 36th St.
Grand Rapids is the second-largest city in Michigan - positioned approximately equidistant from Detroit and Chicago. As of the 2020 Census, the Grand Rapids MSA has a population of 1,087,592. The Grand Rapids economy is supported by its strong manufacturing employment. Grand Rapids has more manufacturing jobs per capita than any large metropolitan area in the U.S., at 19% of its labor force.