7 Brew Coffee 5510 Harvey St 510 SF Retail Building Muskegon, MI 49444 £1,206,048 (£2,364.80/SF) 6.25% Net Initial Yield
INVESTMENT HIGHLIGHTS
- 15-year absolute net lease featuring 10% rental increases every 5 years throughout the base term and options
- Outparcel to The Lakes Mall with direct ingress/egress from Harvey Street – 22,875 VPD
- Zero maintenance/expense obligations for the landlord making this a truly “hands-off” investment
- 2024 build-to-suit construction with drive-thru
- The Lakes Mall is a 645,000 SF regional mall subject to 3.2M annual visitors, which ranks in the 90th percentile of malls in Michigan per Placer.ai
- Brew Horizons LLC is currently a 25-unit 7 Brew franchisee with a 200-unit franchise agreement in place
EXECUTIVE SUMMARY
A 15-year absolute net ground lease 7 Brew featuring 10% rental increases every 5 years throughout the base term and option periods. Subject property serves as a main outparcel to The Lakes Mall with direct ingress/egress from Harvey Street (22,875 VPD) and exposure to the 3.2M annual visitors of the shopping center (per Placer.ai).
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
510 SF
Building Class
C
Year Built
2024
Price
£1,206,048
Price Per SF
£2,364.80
Net Initial Yield
6.25%
NOI
£75,378
Tenancy
Single
Number of Floors
1
Building FAR
0.01
Lot Size
1.78 AC
Zoning
PUD - Planned Unit Development
Parking
113 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
87 ft on Harvey Street
AMENITIES
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 15-122-300-0001-10 | Improvements Assessment | £0 |
| Land Assessment | £0 | Total Assessment | £707,196 |
