Listing Summary
Single-tenant Long John Silver's Absolute NNN for sale in Muskegon, MI ($1,128,000). 1,796 SF restaurant on 1.3 acres, 8+ yrs remaining, 10% rent bumps
Full Description
Single-Tenant Long John Silver's Absolute NNN Investment | Muskegon, MI
An exceptional commercial real estate acquisition opportunity situated along a high-traffic retail corridor in Muskegon, Michigan. Offered at $1,128,000, this freestanding 1,796-square-foot quick-service restaurant (QSR) sits on an expansive 1.30-acre parcel. Fully leased under an Absolute NNN structure to LJS Opco One, LLC with corporate guaranty, this single-tenant asset delivers stable, 100% passive cash flow with zero landlord management obligations, over 8 years of firm lease term remaining, and built-in contractual rent growth.
Investment Specifications & Financial Overview
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Purchase Price: $1,128,000
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Tenant / Brand: Long John Silver's (Corporate Guaranty - LJS Opco One, LLC)
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Property Type: Freestanding Retail / Quick-Service Restaurant (QSR)
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Building Size: 1,796 Net Rentable SF
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Lot Size: 1.30 Acres (Generous 56,628 SF Site)
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Year Built: 1976 (Meticulously maintained and updated)
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Occupancy: 100% Single-Tenant
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Lease Structure: Absolute NNN (Tenant handles roof, structure, HVAC, parking lot, taxes, insurance, and CAM)
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Remaining Lease Term: 8+ Years
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Rent Escalations: 10% Rent Increases Every 5 Years
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Renewal Options: Two (2) Additional 5-Year Options
Corporate Guarantee & Passive Absolute NNN Advantage
Founded in 1969, Long John Silver's is a household QSR brand generating approximately $328 million in annual revenue across hundreds of locations nationwide. This offering pairs an iconic national brand with premier net-lease fundamentals:
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Zero Landlord Responsibilities: The Absolute NNN lease framework holds the tenant responsible for all property expenses—including structural roof repairs, building shell, HVAC replacement, parking lot maintenance, insurance, and taxes—creating a completely passive, hands-off income stream.
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Corporate Guaranty: Income is secured by a corporate guarantee from LJS Opco One, LLC, providing enhanced credit safety and debt-service reliability.
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Built-In Inflation Protection: Contractual 10% rental increases every five years compound overall yield and ensure steady Net Operating Income (NOI) growth throughout the primary term and option periods.
Strategic Commercial Corridor & Submarket Drivers
Situated in a thriving commercial node of Muskegon, the property captures heavy daily commuter volume, excellent visual frontage, and convenient ingress/egress:
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Substantial 1.3-Acre Footprint: The oversized lot accommodates an efficient drive-thru lane, ample customer parking, and smooth vehicle circulation, offering rare real estate underlying value.
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High-Visibility Location: Positioned along one of Muskegon's main retail arteries, driving continuous drive-by exposure and customer visit volume.
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Lakeside Market Attractions: Located near major regional traffic anchors including Pere Marquette Park on Lake Michigan, the Muskegon Museum of Art, and the USS LST 393 Veterans Museum.
Dense Suburban Muskegon Demographic Base
The trade area surrounding the property features a dense, mature residential population supporting surrounding commercial and food service operations:
Surrounding Demographics Profile:
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5-Mile Radius Population: Over 96,000 Residents
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Total Households: Nearly 39,000 Households
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Average Household Income: Exceeding $71,000
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Customer Base: Strong, consistent local demand feeds the surrounding retail and restaurant trade area year-round.
Key Investment Highlights
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100% Passive Absolute NNN Lease with zero landlord obligations or capital expenditure risk.
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Corporate-Guaranteed Lease backed by LJS Opco One, LLC.
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8+ Years Remaining on firm lease term with two 5-year extension options.
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10% Rent Bumps Every 5 Years offering automatic income growth and inflation protection.
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Expansive 1.30-Acre Lot providing exceptional real estate value and long-term site utility.
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Dense Submarket Base serving 96,000+ residents within a 5-mile radius.
Quick Glance
- Listing ID:
CL-Michigan-28374
- Status:
Active
- Year Build:
1976
- Building Size:
1,796 SqFt
- Lot Size:
1.30 Acr
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