102 Madison Ave Bay City, MI 48708-7245

Property Details for 102 Madison Ave

Year built

1997

Lot size

0.47 lot acres

Property size

1,208 SF

Zone code

C-2A GENL BUS

Property type

Drive through restaurants

APN

160-028-256-004-00

APU

16002825600400

Description

This exceptional investment opportunity presents a fee-simple ownership of a Checkers & Rally's fast-food restaurant in Bay City, Michigan. The property, located at 102 S Madison Ave, boasts a prime location on a hard-corner, well-lit intersection within a thriving retail corridor. The 1,208 square-foot building sits on a 0.47-acre lot and is currently operating at 100% occupancy under a 15-year absolute NNN lease with a highly successful franchisee. The lease features four, five-year renewal options with a 10% rent increase every five years, ensuring consistent income growth. The current annual net operating income (NOI) is $120,000, representing a 6.00% cap rate on the $2,000,000 asking price. Built in 1997, this single-story building benefits from its proximity to major roadways, including I-75, and is surrounded by established businesses such as DoubleTree, Comfort Inn, McDonald's, Starbucks, and Advance Auto Parts, as well as local favorites. The property's strategic location across from the Uptown Bay City Development on the Saginaw River further enhances its visibility and appeal. This is a rare opportunity to acquire a stable, high-performing asset with significant long-term growth potential. The property is zoned commercial and offers a secure investment with a proven track record.