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7 Brew Coffee 5510 Harvey St

510 SF Retail Building Muskegon, MI 49444 $2,314,400 CAD ($4,538 CAD/SF) 6.25% Cap Rate

INVESTMENT HIGHLIGHTS

  • 15-year absolute net lease featuring 10% rental increases every 5 years throughout the base term and options
  • Outparcel to The Lakes Mall with direct ingress/egress from Harvey Street – 22,875 VPD
  • Zero maintenance/expense obligations for the landlord making this a truly “hands-off” investment
  • 2024 build-to-suit construction with drive-thru
  • The Lakes Mall is a 645,000 SF regional mall subject to 3.2M annual visitors, which ranks in the 90th percentile of malls in Michigan per Placer.ai
  • Brew Horizons LLC is currently a 25-unit 7 Brew franchisee with a 200-unit franchise agreement in place

EXECUTIVE SUMMARY

A 15-year absolute net ground lease 7 Brew featuring 10% rental increases every 5 years throughout the base term and option periods. Subject property serves as a main outparcel to The Lakes Mall with direct ingress/egress from Harvey Street (22,875 VPD) and exposure to the 3.2M annual visitors of the shopping center (per Placer.ai).

ATTACHMENTS

7Brew_MuskegonMI

PROPERTY FACTS

Sale Type
Investment
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Fast Food
Building Size
510 SF
Building Class
C
Year Built
2024
Price
$2,314,400 CAD
Price Per SF
$4,538 CAD
Cap Rate
6.25%
NOI
$144,650 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.01
Lot Size
1.78 AC
Zoning
PUD
Parking
113 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
87 ft on Harvey Street

NEARBY MAJOR RETAILERS

Red Robin Gourmet Burgers And Brews
Buffalo Wild Wings
Brann's Steakhouse & Grille
7 Brew Coffee
Starbucks
Olive Garden
Five Guys
Texas Roadhouse
Fifth Third Bank
IHOP

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
15-122-300-0001-10
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,357,106 CAD
  • Listing ID: 32465395

  • Date on Market: 2024-07-15

  • Last Updated:

  • Address: 5510 Harvey St, Muskegon, MI 49444

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