Bob Evans 5652 E Pickard Rd 5,610 SF Retail Building Mount Pleasant, MI 48858 $3,429,000 ($611.23/SF) 7% Cap Rate



EXECUTIVE SUMMARY
Current Real Estate Advisors is pleased to present an exceptional investment opportunity – Bob Evans in Mount
Pleasant, MI (the “Property”). This ±5,610 SF freestanding, single-tenant asset is situated on a generous 2.06-acre
parcel and offers the security of an Absolute NNN lease,providing investors with zero landlord responsibilities. With
18+ years remaining on the initial lease term, four 5-year renewal options, and built-in 2% annual rent increases, this
asset ensures long-term income stability and a strong hedge against inflation.
Strategically positioned as an outparcel to The HomeDepot, the Property benefits from a prime signalized, hardcorner location along E Pickard St (20,000+ VPD) with
excellent visibility and direct access to US 127 (22,100+ VPD). This established retail corridor enhances both
accessibility and consumer draw, further supported by a thriving local workforce and residential base. Additionally,
the Property is just minutes from Central Michigan University, home to over 12,000 students and faculty,
adding to the steady stream of potential customers.
This offering presents investors with a truly passive, management-free income stream backed by a nationally
recognized brand and strong real estate fundamentals – delivering both immediate cash flow and long-term financial security.
Pleasant, MI (the “Property”). This ±5,610 SF freestanding, single-tenant asset is situated on a generous 2.06-acre
parcel and offers the security of an Absolute NNN lease,providing investors with zero landlord responsibilities. With
18+ years remaining on the initial lease term, four 5-year renewal options, and built-in 2% annual rent increases, this
asset ensures long-term income stability and a strong hedge against inflation.
Strategically positioned as an outparcel to The HomeDepot, the Property benefits from a prime signalized, hardcorner location along E Pickard St (20,000+ VPD) with
excellent visibility and direct access to US 127 (22,100+ VPD). This established retail corridor enhances both
accessibility and consumer draw, further supported by a thriving local workforce and residential base. Additionally,
the Property is just minutes from Central Michigan University, home to over 12,000 students and faculty,
adding to the steady stream of potential customers.
This offering presents investors with a truly passive, management-free income stream backed by a nationally
recognized brand and strong real estate fundamentals – delivering both immediate cash flow and long-term financial security.
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
5,610 SF
Building Class
B
Year Built
2000
Price
$3,429,000
Price Per SF
$611.23
Cap Rate
7%
NOI
$240,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
2.06 AC
Zoning
CD-4 - General Commercial
Parking
91 Spaces (16.22 Spaces per 1,000 SF Leased)
Frontage
218’ on E Pickard Rd
AMENITIES
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
NEARBY MAJOR RETAILERS



PROPERTY TAXES
Parcel Number | 14-013-20-027-01 | Improvements Assessment | $0 |
Land Assessment | $0 | Total Assessment | $730,200 |