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    Arby’s NNN Drive-Thru Restaurant Title is generated by Realmo AI

    5560 Harvey St, Muskegon, MI 49444

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    For Sale
    $2,049,000

    Single-tenant Arby’s with a corporate guaranty and a full 2022 remodel under an NNN lease structure.

    Type:Retail
    Property size:
    3,356 SF
    Price / SF:
    $610/SF
    Added:
    Jun 2, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 5 at 3:03 am

    Property Features for 5560 Harvey St

    General Information

    Standard status
    Active
    Size
    3,356 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Rob Vasiliavitchious
    Rob Vasiliavitchious

    Listing agent Rob Vasiliavitchious License #02071826

    Listing office Lee & Associates of Michigan

    Listing date Jun 2, 2026

    Source Cpix.resimplifi

    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 Lee & Associates of Michigan

    HighLights

    • Single‑tenant Arby’s in an absolute net (NNN) lease with corporate guaranty from Arby’s Restaurant Group, Inc.
    • Tenant signed a new lease in 2018 with 10+ years remaining and 1.00% annual rent increases.
    • Arby’s Restaurant Group, Inc. spent significant capital on a full building remodel in 2022.
    • Located just off Hwy 31 with nearly 80,000 VPD; directly off Harvey St (17,500 VPD).
    • Strong roadway access: just over 1 mile to I‑96 (29,500 VPD).
    • Retail concentration nearby, including a Menards, Best Buy, Lakes Crossing Shopping Center (anchored by Kohl’s, Ulta, Party City, JOANN, and Shoe Carnival) and Lakeshore Marketplace (~0.5 mile).

    Overview

    This is a single-tenant Arby’s restaurant offered on an absolute net (NNN) basis. The tenant signed a new lease in 2018 and the current lease term has more than 10 years remaining. Rent features 1.00% annual increases, and the structure lists zero landlord responsibilities with a corporate guaranty from Arby’s Restaurant Group, Inc. The building received significant capital improvements with a full remodel completed in 2022.

    The property is an outparcel to The Lakes Mall and is positioned just off Highway 31, which the remarks describe as nearly 80,000 vehicles per day. Additional location information provided includes direct access off Harvey St with approximately 17,500 VPD. The site sits across from a Menards and Best Buy, within the Lakes Crossing Shopping Center anchored by Kohl’s, Ulta, Party City, JOANN Fabrics, and Shoe Carnival. The remarks also note that it is just over a mile from Lakeshore Market Place, with nearby anchors including Target, Hobby Lobby, HomeGoods, Dunham’s Sports, and Burlington, plus close proximity to a broader mix of national retailers.

    For operators and investors seeking a stabilized, corporate-guaranteed fast-casual restaurant investment, the property’s NNN structure and long remaining lease term are central factors. The tenant’s documented capital investment through the 2022 remodel may support ongoing brand positioning, while the described adjacency to established retail centers can support consistent consumer draw.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Dental Office Hair Salon Auto Repair Shop Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Asian Buffet & Grill — 1750 E Sternberg Rd, Muskegon, MI 49444

    Location Insight

    • Map
    • Local Demand
    City
    Muskegon
    County
    Muskegon
    State
    Michigan
    Longitude
    -86.205263
    Latitude
    43.1505451

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    FAQs

    What type of property is this?
    Conventional restaurant - Single-tenant Arby’s with a corporate guaranty and a full 2022 remodel under an NNN lease structure.
    Where is this conventional restaurant located?
    The property is located at 5560 Harvey St Muskegon, MI.
    What is the asking price?
    The asking price for this property is $2,049,000.
    What are key features of this property?
    This property features: Single‑tenant Arby’s in an absolute net (NNN) lease with corporate guaranty from Arby’s Restaurant Group, Inc.; Tenant signed a new lease in 2018 with 10+ years remaining and 1.00% annual rent increases.; Arby’s Restaurant Group, Inc. spent significant capital on a full building remodel in 2022.
    (224) 522-9064
    We can help!
    Listing Contact
    Rob Vasiliavitchious
    Rob Vasiliavitchious
    Real Estate License ID: 02071826
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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