N3909 Pine Mountain Rd | Iron Mountain, MI 49801
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N3909 Pine Mountain Rd
Iron Mountain, MI 49801
SALE-LEASE-BACK 10% CAP Rate - Rivers Bend RV · Land For Sale · 33.00 AC
Investment Highlights
- Rivers Bend RV Resort & Campground, LLC will sign a 15-year ground lease sale lease back at the close of escrow
- Absolute net lease with zero landlord responsibilities
- Passive net lease investment with a buyback option starting year 6, buyback value increases at a 9% compound rate
- Contracted annual rent increases of 3%, a strong hedge against inflation
- The lease will feature a personal guarantee (call for details on PNW) along with the operations
PROPERTY FACTS
Description
This opportunity consists of 15-year ground lease sale lease back investment opportunity with a buy back option starting year 6. N3909 Pine Mountain Rd features a beautiful ±33 acres RV Resort & Campground with 2,500+ lineal feet of River-Frontage that will provide an investor the opportunity to acquire the ground lease entitlement to the property.
PROPERTY TAXES
| Parcel Number | 002-413-027-20 | Improvements Assessment | $0 |
| Land Assessment | $475,100 | Total Assessment | $475,100 |
PROPERTY TAXES
Parcel Number
002-413-027-20
Land Assessment
$475,100
Improvements Assessment
$0
Total Assessment
$475,100
zoning
| Zoning Code | LS/R (Limited Service Residential) |
| LS/R (Limited Service Residential) |
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