1470 Apple Ave Muskegon, MI 49442-3749

Property Details for 1470 Apple Ave

Year built

1960

Lot size

0.75 lot acres

Property size

3,020 SF

Zone code

B-4

Property type

Commercial real estate

APN

61-24-730-000-0165-00

APU

6124730000016500

Description

This exceptional investment opportunity presents a single-tenant, 100% occupied gas station located at 1470 E Apple Ave, Muskegon, MI 49442. The property boasts a 2,735 square foot building situated on a 0.75-acre lot, featuring four gas pumps and a prime corner location next to a McDonald's. The property is under an Absolute NNN lease with a corporate guarantee from GPM Investments, a subsidiary of ARKO Corp, with a remaining lease term of 11.5 years expiring May 31, 2036. The lease includes annual rent bumps of 2%, ensuring consistent income growth. The current Net Operating Income (NOI) is $158,852, resulting in a 6.00% capitalization rate. The asking price is $2,647,000, translating to a price per square foot of $967.82. The tenant, Admiral Gas & Service, has operated at this location for over a decade, establishing a strong customer base. This stabilized investment offers a secure and lucrative return with a long-term lease and a financially strong tenant. Detailed sales reports are available upon request. This is a rare opportunity to acquire a high-performing gas station in a desirable location with significant upside potential.