2288 Park Dr Holland, MI 49424-9596

Property Details for 2288 Park Dr

Year built

1994

Lot size

1.03 lot acres

Property size

3,616 SF

Zone code

C-2

Property type

Drive through restaurants

APN

70-16-21-100-047

APU

701621100047

Description

This exceptional investment opportunity presents a freestanding McAlister's Deli in Holland, Michigan. The property boasts 3,616 square feet on a 1.01-acre lot at 2288 N Park Dr, zip code 49424. Built in 2009 and renovated in 2024, this single-tenant property operates under a 15-year absolute triple-net (NNN) lease with a strong franchisee guarantee from Southern Rock Restaurants, LLC, a major McAlister's operator. The current lease, offering 100% occupancy, generates an annual net operating income (NOI) of $150,000, resulting in a compelling 5.75% cap rate. The lease includes scheduled rent increases of 10% every five years, providing significant long-term growth potential. The lease term extends for a further 15 years through three 5-year renewal options, ensuring a stable and predictable income stream for years to come. The asking price for this turnkey investment is $2,608,696. This is a rare opportunity to acquire a high-performing, well-located QSR property with exceptional lease terms and a strong tenant.

Location Insight

City

Holland

County

Ottawa

State

Michigan

Longitude

-86.0884

Latitude

42.8099

CBSA code

24340

CBSA name

GRAND RAPIDS-WYOMING, MI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments