390 Main St Stockbridge, MI 49285
- Grocery and convenience stores
- 4,560 SF
- 1.52 lot acres
Current Use by Public Records
- Shell / Atm / Convenience Store
- ATM (Stockbridge Shell) / Atm
- USA 2 GO / Gas Station
Property Details for 390 Main St
- Year built
- 1993
- Lot size
- 1.52 lot acres
- Property size
- 4,560 SF
- Property type
- Grocery and convenience stores
- APN
- 33-42-16-27-226-016
- APU
- 33421627226016
Description
This exceptional investment opportunity features a 4,560 sq ft USA 2 GO convenience store and gas station in Stockbridge, MI, boasting a strong 6% cap rate and a substantial 18.1-year remaining lease term (expiring 12/31/2042). The property sits on a 1.52-acre lot and includes six gas pumps. Built in 1993 and renovated in 2024, this location benefits from a corporate-guaranteed Absolute NNN lease with 10% rent bumps every five years and six, five-year renewal options. The property generates a substantial net operating income (NOI) of $221,700, with an asking price of $3,695,000 ($810.31/sq ft). The tenant, USA 2 GO, has committed to significant future renovations, further enhancing the property's value. This is a prime investment opportunity with minimal landlord responsibilities, offering significant long-term growth potential and a strong return on investment. The property enjoys high visibility and benefits from its strategic location near Lansing and Ann Arbor, two major Michigan cities. The location's high traffic counts, exceeding 7,664 vehicles daily on S Clinton St and 6,200 on Stockbridge Rd, contribute to its strong performance. The fee-simple ownership structure allows for bonus depreciation opportunities.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Stockbridge
- County
- Ingham
- State
- Michigan
- Longitude
- -84.1834
- Latitude
- 42.4526
- CBSA code
- 29620
- CBSA name
- LANSING-EAST LANSING, MI METROPOLITAN STATISTICAL AREA
