Map of Property

Chick-Fil-A Ground Lease

For Sale

504 North Drake Road, Kalamazoo, MI 49006

This Kalamazoo property for sale is located at 504 North Drake Road. The current listed sale price for Chick-Fil-A Ground Lease is $3,300,000. Chick-Fil-A Ground Lease is situated on a lot that is 1.25 acre in size.

Contacts

broker

Simon Jonna

Colliers Birmingham (MI) - Jonna Group

(248) 226-1610

Property Details

  • Property Type Retail - Restaurant
  • Property Size 4,996 SF
  • Lot Size 1.25 Acre
  • Property Tenancy Single Tenant
  • Year Built 2020
  • Date Updated Jan 20, 2024
Kalamazoo | MichiganJonna Group is proud to present the Chick-Fil-A Ground Lease retail property at the corner of Drake Road and Main Street, which offers investors an exceptional opportunity for stable, long-term income in a thriving commercial district. This investment provides consistent income growth potential. The property's proximity to major retailers, substantial consumer spending, and nearby educational institutions further solidify its attractiveness to potential tenants.

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Highlights

  • $165,000 NOI | 4.85% CAP Rate
  • Absolute NNN (Ground Lease)
  • Hard Corner: Drake Road & Main Street | 42,613 VPD
  • Rare 20-Year Lease Term | 16.5 Years Remaining
  • Scheduled Rental Increases Throughout Initial Term & at the Beginning of Each Option Period
  • Situated in a Commercially Developed Business District
  • Nearby Retailers: Walgreens, Taco Bell, Verizon, Five Guys, Panera Bread, Tim Hortons, Fifth Third Bank, Comerica Bank, PNC Bank, AT&T, ALDI, Chipotle Mexican Grill, Starbucks, Target, Tropical Smoothie Café & Many More…
  • $136M+ Spent on Food Away from Home in 5-Mile Radius
  • Near 2 Major Universities: Western Michigan University & Kalamazoo Valley Community College

Getting around

  • 62/100

    Walk Score ®

  • 48/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Kalamazoo, MI
  • Neighborhood Westwood
  • Zip Code 49006
  • Market Grand Rapids

Points of Interest

  • Kalamazoo

    3.26 miles

  • BP

    0.03 miles

  • Shell

    0.21 miles

  • Marathon

    0.61 miles

  • Speedway

    1.32 miles

  • Marathon

    1.48 miles

  • BP

    1.54 miles

  • Pacific Pride

    1.54 miles

  • Meijer Gas

    1.73 miles

  • ChargePoint

    1.73 miles

  • Marathon

    1.74 miles

  • Parking Lot 97

    1.52 miles

  • Parking Lot 81

    1.56 miles

  • Parking Lot 56

    1.56 miles

  • Parking Lot 55

    1.58 miles

  • Parking Lot 72W

    1.59 miles

  • Parking Lot 57

    1.60 miles

  • Parking Lot 58

    1.62 miles

  • Parking Lot 59

    1.62 miles

  • Parking Lot 72R

    1.63 miles

  • Parking Lot 82

    1.66 miles

  • Penn Station

    0.05 miles

  • Taco Bell

    0.09 miles

  • Fazoli's

    0.09 miles

  • Hunan Gardens

    0.14 miles

  • Main Street Pub

    0.15 miles

  • Blimpie

    0.15 miles

  • Panera Bread

    0.16 miles

  • Let's Swirl

    0.16 miles

  • Qdoba

    0.20 miles

  • El Inka

    0.21 miles

  • Natural Health Food Center

    0.06 miles

  • Marshalls

    0.18 miles

  • GFS Marketplace

    0.21 miles

  • Kohl's

    0.25 miles

  • Harding's Friendly Market

    0.28 miles

  • ALDI

    0.34 miles

  • Target

    0.38 miles

  • Campus Pointe Mall

    1.61 miles

  • Meijer

    1.62 miles

  • Save-A-Lot

    1.75 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Simon Jonna

Colliers Birmingham (MI) - Jonna Group

(248) 226-1610