Admiral

Property Details

Asking Price:
$1,490,000
Property Type:
Single Tenant
Lease Type:
Absolute NNN
Lease Term:
20 years
Square Footage:
2,040 sqft
Year Built:
1958
NOI:
$90,976

Admiral

War Room

Confidentiality Agreement

Property Overview

  • Absolute Triple Net Lease with over 13 years remaining
  • 2% Annual Rent Increases offers hedge against inflation
  • Hard Corner - Located on the Signalized Intersection of 36th (22,759 VPD) and Clyde Park Ave SW (13,374 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.