La-Z-Boy - Canton, MI

42728 Ford Rd Canton , MI 48187-3339

La-Z-Boy - Canton, MI - Retail for sale

Overview


JLL is pleased to offer for sale the fee-simple interest in a single-tenant La-Z-Boy (the “Property” or “Asset”) located in Canton, MI. The Asset’s lease is guaranteed by La-Z-Boy Incorporated, an exceptionally stable net lease tenant with outstanding corporate growth. Broker of Record - Larry Emmons (MI) - 6505285767

Investment Highlights


  • NN lease structure with over 10 years of term
  • Lease guaranty from La-Z-Boy Incorporated; second largest U.S. furniture brand
  • Over 200 national retailers within a one-mile radius
  • Outstanding exposure with over 40,000 vehicles passing daily
  • Less than 0.25 miles from Michigan's only IKEA location
General
Property Type Retail
Property Subtype Single Tenant / Standalone
Tenure Type Sale / Purchase
Property Address 42728 Ford Rd, Canton, MI 48187-3339
Land In Acres 1.88
Building Size 15,600  ft2
Financial
Price $4,853,000
Cap Rate 6.75%
Current NOI $327,600.00
Lease
Tenant's Name La-Z-Boy Furniture Galleries
Guarantor La-Z-Boy Furniture Galleries
Annual Rent $327,600.00
Lease Expiration Date 09/30/2029
Remaining Term 10.4Yrs
Download Offering Memorandum

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