2999 Michigan AveJackson, MI 49202

For Sale
$3,502,656

High-yield NNN lease, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 26,900-square-foot auto repair shop located at 2999 W Michigan Ave, Jackson, MI 49202. The property sits on a 9.3-acre lot and is zoned I-2. The offering includes a fee-simple ownership of four buildings with a new 10-year net lease (NN+) to CollisionRight, LLC, a leading consolidator of automotive collision repair shops in the United States. The lease commenced September 6th, 2024, and expires September 30th, 2034, with two, five-year renewal options. The lease features attractive 2% annual rent bumps, ensuring consistent income growth. The current Net Operating Income (NOI) is $262,699, resulting in a 7.50% capitalization rate. The asking price is $3,502,656. The property benefits from a strong location on Michigan Ave, near Jackson Airport, within a densely populated area with over 73,000 residents and 30,000 households within a 5-mile radius, boasting a median household income exceeding $66,000. This presents a compelling investment opportunity with a stable, high-growth tenant and significant upside potential. The property is ideally suited for investors seeking a secure, long-term net lease investment with built-in rent increases.

Highlights

  • 26,900 SF auto repair shop on a 9.3-acre lot in Jackson, MI.
  • New 10-year NNN lease with CollisionRight, LLC, a leading national consolidator.
  • 2% annual rent increases and two 5-year renewal options.
  • Corporate-guaranteed lease.

Property Details for 2999 Michigan Ave

Property type
Other retail properties, Automotive properties
Square Feet
26,900 SF
Buildings
4
Lot Size (sq. ft)
405,108 SF

Location Insight

City
Jackson
County
Jackson
State
Michigan
Latitude
42.2508234
Longitude
-84.4515608
2999 Michigan Ave, Jackson, Michigan

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2999 Michigan Ave
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