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Taco John’s

Wyoming, Michigan

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Marcus & Millichap is pleased to present the exclusive listing for a Taco John’s located at 1730 28th Street SW in Wyoming, MI. The property consists of approximately 2,106 square feet of space and is situated on approximately 1.36 acres of land.
The tenant will enter into a brand new, 20-year triple-net (NNN) lease with absolutely no landlord responsibilities upon the day following the close of escrow. The lease will call for rental increases that will be the lesser of the change in CPI or 1.25% annually starting in Year 3. The rental increases will continue through the base term and into the six, five-year tenant renewal options. The lease will carry a guaranty from Meritage Hospitality Group, an experienced 345+ unit operator and the largest franchisee in the Taco John’s system.

About the Investment
Brand New 20-Year Sale-Leaseback
Triple Net (NNN) Lease with Zero Landlord Responsibilities
Attractive Rental Increases | Lesser of Change in CPI or One and a Quarter Percent (1.25%) Annually Starting in Year 3
Six (6) Tenant Renewal Periods of Five (5) Years Each
BRAND NEW CONSTRUCTION | OPENING IN DECEMBER 2022

Key Details

Price:
$2,684,211
Cap Rate:
4.75%
Annual Rent:
$127,500
Address:
1730 28th Street SW, Wyoming, Michigan 49519
Property Type:
Quick Service Restaurant
Lease Type:
Triple Net (NNN)

Original Lease Term:
20 Years
Lease Commencement:
Day Following Close of Escrow
Lease Expiration:
20 Years from Close of Escrow
Lease Term Remaining:
20 Years
Rental Increases:
Lessor of Change in CPI or 1.25% Annually Starting Year 3
Lot Size:
1.36 Acres
Building Size:
2,106 SF
Year Built:
2022
Tenant:
Taco John’s

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Ryan Sblendorio

License: 10401309105

Amelia Haydock

License: 10401334976

Erica Mitchell

License: 10401358653

Broker of record

Steve Chaben

License: 6502387903


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