Arby’s NNN Restaurant
New
For Sale
$2,378,000
5187 Lake Michigan Dr, Allendale, MI 49401
The lease carries a guarantee from RTM Operating Company, LLC, a wholly owned subsidiary of Inspire Brands.
Property Size2,109 SF
Price / SF$1,127
Days on Market3
Property Features for 5187 Lake Michigan Dr
General Information
Standard status
Active
Size
2,109 SF
Property subtype
Restaurant
Lease Type
NNN
Additional Details
Cap Rate
5.75%
Amenities
12 Years Remaining on a Triple-Net Lease with Corporate Arby's Guarantee
10 Percent Rental Increases Every Five Years with Multiple Renewal Options
Situated within the Grand Rapids MSA with Over 47,000 Residents within Five Miles
Newer 2018 Construction with a Drive-Thru
One Mile from Grand Valley State University, the Largest University in the Grand Rapids MSA with More Than 21,000 Students
Excellent Frontage Along Lake Michigan Drive (Approximately 31,400 Vehicles per Day), Allendale's Primary Thoroughfare Providing a Direct Route into Grand Rapids
Surrounded by National Retailers: ALDI, Goodwill, McDonald's, O'Reilly Auto Parts, etc.
Average Household Income Exceeds $98,000 within a Five-Mile Radius
Building Details
Building Size
2,109 SF
Tenancy
Single
Listing Agency:
Marcus & Millichap - Phoenix
Listed By:
Chris Lind · License #License(s): AZ: SA627823000
(602) 687-6780
Source:
Marcusmillichap
Added: Oct 4
Last Checked: Oct 5 at 3:10PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Phoenix
Investment Insights
Based on property information with market context.
This 2,109-square-foot Arby’s restaurant is offered with an absolute NNN lease. RTM Operating Company, LLC, a wholly owned subsidiary of Inspire Brands, guarantees the lease.
The property is located at 5187 Lake Michigan Dr in Allendale, Michigan, within Ottawa County and the Grand Rapids metropolitan area. Allendale is also home to Grand Valley State University and an adjacent Meadows Club House golf course.
The property is located at 5187 Lake Michigan Dr in Allendale, Michigan, within Ottawa County and the Grand Rapids metropolitan area. Allendale is also home to Grand Valley State University and an adjacent Meadows Club House golf course.
Key Highlights
- 2,109‑square‑foot Arby’s restaurant
- Absolute NNN lease
- Lease guarantee from RTM Operating Company, LLC, an Inspire Brands subsidiary
Property Analytics
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Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
146k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 64%
Groceries 17%
Shops & Services 8%
Home Improvements & Furnishings 5%
Aldi
Groceries
24,388 visits/mo
0.2 miles
McDonald's
Dining
23,640 visits/mo
0.2 miles
Culver's
Dining
18,118 visits/mo
0.1 miles
Taco Bell
Dining
17,001 visits/mo
0.2 miles
Burger King
Dining
9,694 visits/mo
0.4 miles
Demographics for 49401, MI
29,598
Population
9,083
Households
3.3
Avg Household Size
24
Median Age
41%
College-Educated
98%
High-School Grad
31.9 sq mi
ZIP Area
928
Density / Sq Mi
$73,020
Median Household Income
$16,175
Median Earnings
$1,083
Median Rent
$298,700
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
NNN property - The lease carries a guarantee from RTM Operating Company, LLC, a wholly owned subsidiary of Inspire Brands.
Where is this nnn property located?
The property is located at 5187 Lake Michigan Dr Allendale, MI.
What is the asking price?
The asking price for this property is $2,378,000.
What are key features of this property?
This property features: 2,109‑square‑foot Arby’s restaurant; Absolute NNN lease; Lease guarantee from RTM Operating Company, LLC, an Inspire Brands subsidiary
