5652 Pickard Rd Mount Pleasant, MI 48858

This exceptional investment opportunity presents a 5,610 square foot, single-tenant, free-standing building housing a Bob Evans restaurant. Located at 5652 E Pickard Rd, Mount Pleasant, MI 48858, this property boasts a prime location on a signalized hard corner with excellent visibility and access from E Pickard Rd (approximately 16,660 vehicles per day) and a Highway 127 off-ramp. The property is an outparcel to a Home Depot and adjacent to a Tractor Supply, benefitting from significant traffic and consumer draw. Its proximity to Soaring Eagle Casino & Resort, multiple hotels, Mid Michigan College, and Central Michigan University ensures consistent high traffic volume. The property sits on a 2.6-acre lot with ample parking (91 spaces). The building, constructed in 2000, is classified as Class B and is currently 100% occupied under an absolute NNN lease with a credit-rated, corporate guarantee from Bob Evans Restaurants, LLC. The lease commenced July 23, 2023, and has a remaining term of approximately 18.7 years, expiring July 31, 2043. The lease includes four, 5-year options and features 2% annual rent bumps beginning May 1, 2027. The current Net Operating Income (NOI) is $240,000, resulting in a 7.00% cap rate based on the asking price of $3,429,000. This represents a significant investment opportunity with substantial long-term income potential and built-in rent growth. The property offers a rare combination of a strong tenant, long-term lease, and excellent location, making it an attractive addition to any portfolio.