2020 Saginaw Rd Midland, MI 48640-6817

Property Details for 2020 Saginaw Rd

Year built

1992

Lot size

0.46 lot acres

Property size

594 SF

Zone code

RC

Property type

Drive through restaurants

APN

14-15-40-370

APU

141540370

Description

This exceptional investment opportunity presents a 15-year absolute NNN sale-leaseback of a Checkers/Rally's restaurant located at 2020 S Saginaw Rd, Midland, MI 48640. The property, built in 1994, encompasses 594 square feet on a 0.46-acre lot in a high-traffic retail corridor. The single-story building benefits from a hard-corner, lighted intersection location and highway exit-ramp visibility. The current tenant, a top-performing franchisee with extensive experience, operates a total of 65 units. The sale price is $1,600,000, representing a $2,693.60 price per square foot and a 6.00% cap rate. The initial annual net operating income (NOI) is $96,000, with 10% rent escalations every five years throughout the 15-year lease term, which includes four, 5-year renewal options. The property's strategic location is surrounded by major national retailers and enjoys proximity to significant employment centers, including the Dow Michigan Operations facility and Davenport University. This fee-simple ownership offers a stable, long-term investment with a strong tenant and excellent location. The property is zoned commercial and boasts 100% occupancy. This is a rare opportunity to acquire a well-established, high-performing QSR property with a secure, long-term lease.