1380 Wright Avenue Active Save Request In-Person Tour Request Virtual Tour
Alma,MI 48801
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 1,866 sqft
Price per Sqft $374
MLS Listing ID 79080052171
Originating Board Central Michigan Association of REALTORS®
Year Built 1980
Annual Tax Amount $8,667
Lot Size 0.560 Acres
Acres 0.56
Lot Dimensions 140 x 175
Property Description
Prime Investment Opportunity: Commercial Property with Triple Net Leases Investors, take note of this exceptional opportunity to own a commercial property with secure, long-term income from two established tenants. This low-maintenance investment generates over $42,000 annually, with both tenants on triple net (NNN) leases, minimizing landlord responsibilities to only the structural portions of the roof, exterior, and load-bearing walls. Property Highlights: 1. Tenant 1: Quick-Service Pizza Restaurant & Fast-Food Delivery Lease Details: In place through 2028, with options to renew, ensuring consistent and reliable rental income. Income: $30,000 per year with scheduled rent increases, adding future value. Business: Thriving quick-service model with steady foot traffic and delivery operations, a staple in the local community. 2. Tenant 2: Digital Advertising Company Lease Details: A remarkable 40-year lease, guaranteeing income security for decades. The digital advertising sign features continuous scrolling marketing, driving high visibility for local businesses. Income: $12,000 per year with scheduled increases, further boosting long-term revenue potential. Signage: Strategically positioned to maximize exposure, benefiting from consistent demand for advertising space. This commercial property offers an ideal investment for buyers seeking a solid return with minimal management demands. With long-term leases and built-in rent escalations, it promises stable cash flow and appreciation potential. Don’t miss this chance to add a high-yield, hassle-free asset to your portfolio! Contact your Realtor for more details and to schedule a viewing.
Location
State MI
County Gratiot
Area Alma
Zoning Commercial
Interior
Heating Forced Air
Heat Source Natural Gas
Exterior
Waterfront no
Roof Type Asphalt
Accessibility Disabled Access
Building
Foundation Slab
Sewer Public Sewer (Sewer-Sanitary)
Water Public (Municipal)
Structure Type Brick,Frame
Schools
School District Alma
Others
Tax ID 5134101330
Ownership Corporate/Relocation
Acceptable Financing Cash,Conventional,Trade/Exchange
Listing Terms Cash,Conventional,Trade/Exchange
Financing Cash,Conventional,Trade/Exchange
Special Listing Condition Unknown/Data Share Listings