MI > Alma
Alma, MI 48801,1380 Wright Avenue
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Alma, MI 48801,1380 Wright Avenue
Alma, MI 48801,1380 Wright Avenue
Alma, MI 48801,1380 Wright Avenue
Alma, MI 48801,1380 Wright Avenue
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Pat Lotz Real Estate Group

Pat Lotz Real Estate Group

+1(734) 474-8713
$ 699,000
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1380 Wright Avenue Alma, MI 48801

1,866 SqFt

UPDATED:

11/06/2024 02:33 PM

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

Realcomp MLS
©2024 Realcomp II Ltd. Shareholders
Listed by Micah Kemler of 43 NORTH REALTY

Pat Lotz Real Estate Group

Agent | License ID: 6501428832

+1(734) 474-8713

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1380 Wright Avenue