Address: 3459 E North Union Rd, Bay City, Michigan, United States 48706
Cap Rate: 5.85%
Lease Type: Triple Net (NNN)
Annual Rent: $45,668
Net Operating Income: $
Lease Term Remaining: 14.1 Years
Rental Increases: 10% Every 5 Years
Rentable Sq/Ft: 3,452 SF
Rent Sq/Ft: $13.23
Price Sq/Ft: $226
Lot Size: +/- 0.9 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Long John Silver’s located at 3459 E Union Road in Bay City, Michigan. The site consists of roughly 3,452 rentable square feet of building space on estimated 0.9 acre parcel of land.
This Long John Silver’s is subject to a long term, 15-year triple-net (NNN) lease, which commenced on May 17, 2018. The annual rent is $45,668. There are two (2), five (5)-year tenant renewal options.
The subject property is well-positioned in a dense retail corridor consisting of many national and local tenants. Surrounding major retailers include: Big Lots, Taco Bell, McDonald’s, Family Dollar, PNC Bank, Discount Tire, Arby’s, Tom Horton’s, Aldi, Kroger and many more. Handy High School and John Glenn High School, which enroll a combined total of 2,000 students are within a mile radius of the property Saginaw Valley State University is located eight miles from the subject property and has a combined total enrollment of approximately 9,800 students.
The subject property is located on E North Union Road which experiences average daily traffic counts of 14,580 vehicles. The intersection of E North Union Road intersects and North Euclid Avenue brings in an additional 23,500 vehicles to the immediate area per day. There are 48,545 individuals residing within a three mile radius of the subject property and over 71,596 individuals within a five mile radius.
Saginaw is a city in the U.S. state of Michigan and the seat of Saginaw County. The city of Saginaw and Saginaw County are both located in the area known as Mid-Michigan or Central Michigan. The city of Saginaw is located adjacent to Saginaw Charter Township and is considered part of the Tri-City area, along with neighboring Bay City and Midland. Saginaw’s entertainment hub can be found in the downtown area, where venues such as The Dow Event Center and the restored Temple Theatre offer live entertainment. The Saginaw Bay Symphony Orchestra and Saginaw Choral Society are housed in the Temple and each of these organizations perform full concert series annually at the Temple venue. The Saginaw Historical Society is also located downtown in an elaborate castle. Nearby, the Saginaw Art Museum boasts an impressive permanent collection and recently underwent a massive renovation. The Celebration Square area of downtown boasts an authentic Japanese Tea House, the only one of its kind in Michigan.
Broker of Record: Steve Chaben License #6502387903