620 Main St Watervliet, MI 49098
- Retail properties
- 2,800 SF
- 1.20 lot acres
Current Use by Public Records
- Retail properties
Property Details for 620 Main St
- Year built
- 2024
- Lot size
- 1.20 lot acres
- Property size
- 2,800 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new Wendy's restaurant, built in 2024, located at 620 S Main St, Watervliet, MI 49098. The property boasts 2,800 square feet on a 1.2-acre lot and is subject to a 20-year triple-net (NNN) lease with a corporate guarantee, ensuring minimal landlord responsibilities. The current annual net operating income (NOI) is $138,750, representing a compelling 5.60% capitalization rate based on the asking price of $2,477,679. The lease features annual rent increases, with the lesser of a change in the Consumer Price Index (CPI) or 1.50% applied each year, providing built-in protection against inflation. This single-tenant property offers the security of a long-term lease with a globally recognized brand, Wendy's, the world's third-largest hamburger chain. The property's strong location in Berrien County, Michigan, further enhances its investment appeal. This is a turnkey investment ideal for passive income seekers. The price per square foot is $884.89. This offering represents a rare opportunity to acquire a high-performing, low-maintenance asset with significant long-term growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Watervliet
- County
- Berrien
- State
- Michigan
- Longitude
- -86.2623
- Latitude
- 42.1807
