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Burlington

4095 Miller Road, Flint, MI, USA
$6,600,500 7.0% Cap 42,980 sq ft Built 1996 Actual Site Photo Print This Page

Location

4095 Miller Road, Flint, MI, USA

Price: $6,600,500
Cap Rate: 7.00%
Lease Start: 05/11/2018
Lease End: 02/28/2029
Net Operating Income: $462,035
Options: Four, 5 Year
Increases: $0.50 Every 5 Years
Square Footage: 42,980 SF
Year Built/Renovated: 1996 / 2018

Established Tenancy at this LocationExcellent Access and VisibilityHeavily Trafficked LocationLocated on a Major Commercial ThoroughfareLong Term Net LeaseStrong DemographicsTrophy Location

The Kase Group is pleased to present this rare opportunity to acquire a brand new long-term net leased asset 100% occupied by BURLINGTON STORES, INC., a publicly traded Fortune 500 company with stellar earnings and sales history that is outperforming category peers.

This brand new ten and a half year lease commenced May 2018 and is set to expire February 2029. It features four, five-year renewal options. In addition to scheduled base rent escalations of fifty cents in every fifth year of the primary and options lease terms, Burlington is required to report annual sales; thereby granting an additional base rental increase of two percent of gross sales over natural breakpoint of five percent.

Flint is the largest city and seat of Genesee County, Michigan, United States. Located along the Flint River, 66 miles northwest of Detroit, it is a principal city within the region known as Mid Michigan. It is the fourth largest metropolitan area in Michigan with a population of 425,790 in 2010.

From the late 19th century to the mid 20th century, the city was a leading manufacturer of carriages and later automobiles, earning it the nickname “Vehicle City”. General Motors (GM) was founded in Flint in 1908, and the city grew into an automobile manufacturing powerhouse for GM’s Buick and Chevrolet divisions after World War II up until the early 1980s recession.

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