Corporate Tim Hortons
Listing was updated on: 12/03/2019
Property Overview
| Price/Rent PSF | $ 995,000.00 |
| Asset Type | Retail |
| Trade Type | Sale |
| SQ. FT. Available | 1,638 |
| Date Available | 12/03/2019 |
| Additional URL | Link |
| Additional parameters | Show |
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Description
Location
Just west of West Village, Islandview is named for its proximity to Detroit's island park, Belle Isle. The neighborhood is bound by Jefferson on the south, Mack to the north, Mt. Elliott to the west and Baldwin Street on the east. Historic single- and multi-family homes, apartments and rowhouses populate the eastern end of the neighborhood. The western end is home to nonprofits like Gleaners Community Food Bank and Capuchin Soup Kitchen and its Earthworks Urban Farm.
Sale
Fortis Net Lease is pleased to present a free-standing Tim Hortons restaurant located at 7201 E Jefferson Ave in Detroit, Michigan. The tenant recently signed a ten year lease extension through December of 2029 showing commitment to this location. The NNN Ground Lease requires no landlord responsibilities and has 7% increases every 5 years. There are two (2) five (5) year options to extend.
The subject property is located just 2.5 Miles East of Downtown Detroit at the main entrance to Bell Isle Park is in a very densely populated area with over 187,900 residents within five miles. The median home value within one mile is over $105,000. This is an ideal opportunity for an investor to purchase a passive income real estate asset with absolutely zero management responsibilities.
Location