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$ 1,600,000
Est. payment | /mo
3,016 SqFt
$ 1,600,000
Est. payment | /mo
3,016 SqFt
Key Details
Property Type Commercial
Sub Type RealEstateOnly
Listing Status Active
Purchase Type For Sale
Square Footage 3,016 sqft
Price per Sqft $530
Subdivision South Penn Concourse
MLS Listing ID 20261066526
Year Built 1983
Lot Size 0.680 Acres
Acres 0.68
Property Sub-Type RealEstateOnly
Property Description
Excellent sale-leaseback investment opportunity to acquire the real estate occupied by Big Boy at 6525 S. Pennsylvania Ave., Lansing, MI 48911. As part of the transaction, Big Boy has a long-term modified gross lease, allowing an investor to acquire the property with a lease in place and immediate contractual rental income from an established restaurant operator. The property is situated in a busy, high-traffic location along S. Pennsylvania Avenue with strong visibility, convenient access, and an existing drive-thru. The current lease will provide for an initial 20-year term, together with one additional 10-year renewal option. Scheduled base rent will be $9,075 per month during Years 1-5, $9,982 per month during Years 6-10, $10,000 per month during Years 11-15, and $12,000 per month during Years 16-20. This offering is for the real estate only and does not include the operating business, presenting an attractive opportunity for an investor seeking a long-term sale-leaseback with contractual rent growth, a recognizable tenant, drive-thru functionality, and a well-positioned Lansing location.
Location
State MI
County Ingham
Area Area11012Lansing
Interior
Fireplace No
Exterior
View Y/N No
Garage false
Building
Foundation Slab
Sewer Public Sewer
Water Public
New Construction No
Schools
School District Lansing
Others
Senior Community false
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition ShortSaleNo, Standard
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Listed by Hassan Scheib of Own It Realty
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