10459 Clare Ave Clare, MI 48617-8909

Property Details for 10459 Clare Ave

Lot size

1.00 lot acres

Property type

Commercial land

APN

015-026-300-36

APU

1502630036

Description

This exceptional investment opportunity presents a fee-simple ownership of a top-five performing Biggby Coffee location in Clare, Michigan. The property boasts a brand-new 15-year net lease with a franchisee tenant, featuring a 1.5% annual rent increase. The 500-square-foot building, constructed in 2023, sits on a one-acre lot and enjoys 100% occupancy. The current NOI is $72,000, yielding a 7.00% cap rate, with a sale price of $1,028,571 ($2,057.14/sq ft). The lease includes two and five-year renewal options. This prime location benefits from its position on US Routes 127 and 10, providing excellent visibility and accessibility. The store's strong performance is reflected in its low rent-to-sales ratio of 6.5%, indicating significant potential for future growth. Clare, Michigan, offers a blend of small-town charm and proximity to larger metropolitan areas like Lansing, Midland, Grand Rapids, and Traverse City. The property's oversized lot provides flexibility for future expansion or development. This is an ideal investment for those seeking a stable, high-yielding, and low-maintenance asset with significant long-term potential. The Biggby Coffee brand has system-wide sales exceeding $200 million in 2023 and over 370 stores nationwide, demonstrating its robust market presence and consumer demand. This particular location's success is further enhanced by the development of a new shopping center nearby, promising increased foot traffic and sales growth.

Location Insight

City

Clare

County

Clare

State

Michigan

Longitude

-84.7668

Latitude

43.836

Property Tax & Assessments