Retail Space - For Sale
718 Perry Avenue Big Rapids, MI 49307
Details & Description
Price: $2,799,000
  • Property Type Retail for Sale : Food Service
  • Lot Size Acres 0.870
  • Building Sq Ft 4,170
  • Building Price per Sq Ft $671.22
  • Land Sq Ft 37,897
  • Land Price per Sq Ft $73.86
  • CAP Rate % 8.60
Fantastic location facing one of several main entrances to Ferris State University - a Michigan State University operating at "Full Strength" with 13,000 students. Restaurant is located in front of a shopping center anchored by Big Lots, Tractor Supply and Auto Zone. 2022 Sales analysis hard with $3M plus restaurant sale. Nearly 12% increase from 2021-2022 in restaurant sales.Seller will credit the Buyer with the differences between the current annual rent of $218,607.40 and the adjusted rent through June 30, at closing. Sales in Big Rapids are almost 20% above the national average for Applebee's - contact Dr. Jeffrey Hirschfeld for more information. Team Schostak Family Restaurants operates nearly 170 restaurants throughout Michigan and has been part of a family owned real estate business for over 4 generations. Schostak's current activities include joint ventures, build to suit projects, mixed use developments and leasing retail, office, industrial, residential use projects both suburban and urban in 24 states. Dense retail corridor with nearby retailers including Menard's, Lowe's Meijer, Walmart, Hampton Inn, Culver's, Holiday Inn, Bob Evans, McDonalds, Super 8, Dunham's Sports, Walgreens and more.
Property Highlights
Listing Agents
Jeffrey Hirschfeld

O: 303-454-5425
jhirschfeld@antonoff.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

718 Perry Avenue

Big Rapids, MI 49307

Listing ID: 301765
$2,799,000
For Sale
  • Property Type Retail for Sale : Food Service
  • Lot Size Acres 0.870
  • Building Sq Ft 4,170
  • Building Price per Sq Ft $671.22
  • Land Sq Ft 37,897
  • Land Price per Sq Ft $73.86
  • CAP Rate % 8.60
  • 718 Perry Avenue Big Rapids, MI 49307 | for Sale | Photo 1
  • 718 Perry Avenue Big Rapids, MI 49307 | for Sale | Photo 2
718 Perry Avenue | for Sale | Thumbnail 1
718 Perry Avenue | for Sale | Thumbnail 2
Property Highlights
 Year Built 2000
 Zero Landlord responsibilities
 Just under 1,600 locations in the United States as of 2023 within 1,167 cities nationwide
 The parent company, Dine Brands Global, Inc. sales were up close to $1 billion as of year end 2021
 Approximately 1680 restaurants worldwide as of 2021
 The first Applebee's opened in Atlanta in 1980
Description

Fantastic location facing one of several main entrances to Ferris State University - a Michigan State University operating at "Full Strength" with 13,000 students. Restaurant is located in front of a shopping center anchored by Big Lots, Tractor Supply and Auto Zone. 2022 Sales analysis hard with $3M plus restaurant sale. Nearly 12% increase from 2021-2022 in restaurant sales.

Seller will credit the Buyer with the differences between the current annual rent of $218,607.40 and the adjusted rent through June 30, at closing. Sales in Big Rapids are almost 20% above the national average for Applebee's - contact Dr. Jeffrey Hirschfeld for more information. Team Schostak Family Restaurants operates nearly 170 restaurants throughout Michigan and has been part of a family owned real estate business for over 4 generations. Schostak's current activities include joint ventures, build to suit projects, mixed use developments and leasing retail, office, industrial, residential use projects both suburban and urban in 24 states. Dense retail corridor with nearby retailers including Menard's, Lowe's Meijer, Walmart, Hampton Inn, Culver's, Holiday Inn, Bob Evans, McDonalds, Super 8, Dunham's Sports, Walgreens and more.

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Big Rapids Area Market Trends

Listing Demographics for 718 Perry Avenue Big Rapids, MI 49307

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population5,58713,72718,043
Population Median Age273234
Population by Age0-9 Yrs150 (2%)1001 (7%)1501 (8%)
10-19 Yrs1747 (31%)2863 (20%)3404 (18%)
20-29 Yrs2494 (44%)4694 (34%)5274 (29%)
30-39 Yrs197 (3%)1159 (8%)1634 (9%)
40-49 Yrs288 (5%)1210 (8%)1765 (9%)
50-59 Yrs220 (3%)887 (6%)1583 (8%)
60-69 Yrs329 (5%)1151 (8%)1653 (9%)
70+ Yrs162 (2%)764 (5%)1230 (6%)
Median HH Income$40,750$31,032$36,325
Total Household Income< 24K522 (39%)1794 (38%)2175 (34%)
25-49K312 (23%)1279 (27%)1730 (27%)
50-74K159 (12%)579 (12%)854 (13%)
75-99K130 (9%)361 (7%)572 (9%)
100-199K174 (13%)508 (10%)835 (13%)
200K+11 (0%)100 (2%)168 (2%)
Highest Education LevelNo Diploma102414578
Diploma or GED32716202489
Some College24313972109
Assoc. Degree206639973
Bachelors Degree35310511599
Higher Degree2608681216
Total Housing Units1,5695,1847,209
--Owner-Occupied4392,2313,590
--Renter-Occupied8692,3902,744
Owner-Occupied Values< 100K1127911181
100-199K23410051654
200-299K59264476
300-399K104895
400-499K76298
500K+176285
Total Working Age Population5,30312,08915,541
In Work Force3,2747,3589,399
Not In Work Force2,0294,7316,142
Workforce Employed3,0256,8738,837
Workforce Unemployed249485563
Civlian Workforce3,2747,3589,399
Military Workforce000
Total Households1,3084,6216,334
Family Households4672,0083,138
Non-Family Households8422,6123,196
Married Couple2631,2902,150
Other Family203718988
Married w/Child108601918
Single Male w/Child34108142
Single Female w/Child77347476

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
Michigan9,938,444-19,883,640+110,023,423+410,424,510
Newaygo County47,874+148,460+148,810+651,547
Mecosta County40,553+642,798+243,585+244,589

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

Total Working Age Population:

Total Households:

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Map Views
Other Retail Space Listings for Sale Nearby
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309 West Broadway Street, Mount Pleasant, MI $99,900 3750 0.27
104 West Maple Street, McBain, MI $349,000 13256 1.09
935 South Lafayette Street, Greenville, MI $225,000 5300 0.22
400 South State Street, Sparta, MI $1,500,000 16095 3.64
1322 West State Street, Belding, MI CALL 2000 -
1960 South Morey Road, Lake City, MI CALL 17520 -
Closest Commercial Airports
Airport Distance (mi)
MBS International Airport (MBS) 71
General Mitchell International Airport (MKE) 131
Austin Straubel International Airport (GRB) 142
Listing Agent
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