2999 Michigan Ave Jackson, MI 49202-1805

Property Details for 2999 Michigan Ave

Year built

1952

Lot size

9.30 lot acres

Property size

28,100 SF

Zone code

I-2

Property type

Auto shops

APN

000-08-32-402-002-02

APU

83240200202

Description

This exceptional investment opportunity presents a 26,900-square-foot auto repair shop located at 2999 W Michigan Ave, Jackson, MI 49202. The property sits on a 9.3-acre lot and is zoned I-2. The offering includes a fee-simple ownership of four buildings with a new 10-year net lease (NN+) to CollisionRight, LLC, a leading consolidator of automotive collision repair shops in the United States. The lease commenced September 6th, 2024, and expires September 30th, 2034, with two, five-year renewal options. The lease features attractive 2% annual rent bumps, ensuring consistent income growth. The current Net Operating Income (NOI) is $262,699, resulting in a 7.50% capitalization rate. The asking price is $3,502,656. The property benefits from a strong location on Michigan Ave, near Jackson Airport, within a densely populated area with over 73,000 residents and 30,000 households within a 5-mile radius, boasting a median household income exceeding $66,000. This presents a compelling investment opportunity with a stable, high-growth tenant and significant upside potential. The property is ideally suited for investors seeking a secure, long-term net lease investment with built-in rent increases.