Chick-fil-A

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Chick-fil-A

2700 N US-31 Traverse City MI Grand Traverse County

Sales Price: $3,200,000

Cap Rate: 3.75%

Contact Person(s): Daniel Kukes
Maxwell Lippitt
Jason Greenspan

Description:

NEW 2021 CONSTRUCTION

  • Chick-Fil-A has accepted pad delivery by the developer and is currently under construction with a goal of being open for business by the end of year.

STRONG CREDIT CORPORATE TENANT

  • The Lease is backed by Chick-Fil-A, Inc. – One of the nation’s fastest growing restraint concepts with over 2,600 locations and an annual revenue of $13.7 billion.
  • This location is expected to report sales of over $5,000,000 annually.
  • 15-Year Lease with 8.00% rent increases every 5 years.

GROUND LEASE

  • Tenant is responsible for all aspects of building including Taxes, Insurance, CAM, Roof & Structure, Utilities, etc.

TOURIST DESTINATION

  • Traverse City is visited by over $3.5 Million tourists annually with 10%+ growth since 2019.

Building Size: 4,500 SF

Lot Size: 1.40 AC

Demographic Info:

Radius: 1 Mile 3 Mile 5 Mile
Population Density: 3,516 27,492 48,676
Avg. HH Income: $56,688 $69,806 $77,789

LANDMARK INVESTMENT SALES – Licensed Real Estate Brokers. The information above has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction, the suitability of the property for your needs.