Taco Bell

• Strong-Performing Location with Healthy Rent-to-Sales Ratio — Unit sales support a strong rent coverage ratio, indicating a healthy margin of safety for the operator.
• 15-Year Sale-Leaseback with Long-Term Commitment — A new 15-year primary term from the Close of Escrow signals operator confidence in the site and provides a long runway of contractual income with Four, 5 Year Options to follow.
• 10% Rental Increases Every 5 Years — Built-in rent growth throughout the primary term providing a hedge against inflation and supports steady NOI appreciation over the hold period.
• Absolute Triple Net (NNN) Lease — Zero landlord responsibilities, Tenant is responsible for taxes, insurance, CAM, and all structural/roof/parking lot maintenance.
• Experienced, Multi-Unit Operator (30+ Years in Yum! Brands System) — Leased to 7 Bells, LLC (±14 Units), an established Taco Bell franchisee with a concentrated, Michigan-based portfolio, reflecting deep familiarity with local market dynamics and a proven track record of operational success throughout the state.
• 2023 Construction – Newer construction Drive Thru location reducing near-term capital expenditure risk and demonstrating a modern prototype for the brand.
• Strong Brand Affiliation — Taco Bell is one of the top-performing QSR brands in the country, backed by Yum! Brands (NYSE: YUM), one of the largest restaurant companies globally.
• Signalized Highway Intersection with Heavy Pass-Through Traffic — The property sits at the convergence of US-131, M-72, and M-66 (Cedar Street) in downtown Kalkaska, a crossroads that channels the majority of the Village’s regional traffic directly past the site, providing consistent visibility and drive-thru convenience for both local residents and passing motorists.
• Gateway to Northern Michigan Recreation & Tourism Corridor — Known as the “Trout Capital of Michigan,” Kalkaska serves as a gateway community for outdoor recreation (fishing, hunting, and the Kalkaska State Forest) and sits along the primary north-south corridor connecting to Traverse City, driving seasonal tourist and pass-through traffic that supplements the year-round local customer base.