Scooter’s Coffee – Brighton, MI
Fortis Net Lease is pleased to present this Absolute NNN Sale Leaseback Scooter’s Coffee drive-thru (The 1st Scooter’s in Michigan) located in Brighton, Michigan. Scooter’s saw construction completed in spring of 2022, and will operate on a twelve (12) Year Absolute NNN Lease, commencing at close of escrow, leaving zero landlord responsibilities. The lease contains 1.5% rent increases annually throughout the primary term and throughout each of the six (5 Year) options to renew. The lease is guaranteed by both the 5 Unit Scooter’s Franchisee, and Personally. The tenant invested nearly $1 Million in Leasehold improvements. This store has served 30,000+ customers since June 27th (as of 10/1/22)!
This Scooter’s Coffee kiosk is highly visible as it is strategically positioned on Grand River Avenue seeing 26,400 cars per day, less than 1 mile from the I-96 exit, which sees 88,226 cars per day. The 5 mile population from the site is 52,646 while the 1 mile average household income is $80,218 per year, making this location ideal for a Scooter’s Coffee. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Scooter’s Coffee. List price reflects a 6.25% cap rate based on NOI of $130,000.
• 12 Yr Abs. NNN Sale Leaseback | Zero Landlord Responsibilities
• 1.5% Annual Rent Bumps | 6 (5 Year) Option w/1.5% Annual Bumps
• 2022 BTS Construction | Drive-Thru Prototype Kiosk
• Across Street from Meijer’s, and Kitty Corner to Walgreens
• 5 Mile Population 52,646 | 1 Mile Income of $80,128 | Steady Growth Expected
• 26,400 VPD on Grand River Avenue | 88,226 VPD on I-96
• Franchisee & Personally Guaranteed Lease | 5 Unit Franchisee
• Less Than 1 Mile From Dense Retail Hub | Target, Aldi, Home Depot, Marshalls, Etc.
VIDEO LINK: https://vimeo.com/729244842