5510 Harvey St Muskegon, MI 49444
- Commercial real estate
- 510 SF
Current Use by Public Records
- Commercial real estate
Property Details for 5510 Harvey St
- Year built
- 2024
- Property size
- 510 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a 510-square-foot 7 Brew Coffee location in Muskegon, Michigan. Situated on a 34,848-square-foot lot at 5510 Harvey Street, this property benefits from its strategic outparcel location to The Lakes Mall, a 645,000-square-foot regional mall attracting 3.2 million annual visitors (per Placer.ai). The property boasts a 15-year absolute NNN ground lease with built-in rent bumps of 10% every five years, ensuring consistent income growth throughout the base term and six, 5-year renewal options. The 2024-built property features a drive-thru and enjoys excellent visibility and accessibility with direct ingress/egress from Harvey Street, a road with 22,875 vehicles per day. The property's strong NOI of $100,000 translates to an attractive 6.25% cap rate, making it an ideal addition to any diversified portfolio. The landlord's responsibilities are minimal, offering a truly hands-off investment experience. This is a single-tenant, ground lease investment with a proven brand and a strong franchisee, Brew Horizons LLC, operating under a 200-unit franchise agreement. The asking price is $1,600,000.
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
- Muskegon
- County
- Muskegon
- State
- Michigan
- Longitude
- -86.2050968
- Latitude
- 43.1515
