Original Footwear Company - Big Rapids, MI

Investment Overview

Alpha Real Estate Advisors presents Original Footwear’s primary manufacturing facility in Big Rapids, MI. A ±100,000 SF industrial property on ±6.60 acres. Offered at $9 million at an 8.06% cap rate, this investment features a new 20-year absolute NNN lease, a corporate guarantee, and 10% rent increases every five years, with effectively zero landlord responsibilities. Operating for over 30 years, this mission-critical facility supports footwear production for the U.S. military, law enforcement, and first responders.

Investment Highlights

• Absolute NNN Lease Structure – Tenant is responsible for Taxes, Insurance, and Common Area Maintenance (CAM), translating to truly passive income for investors with effectively zero landlord responsibilities.
• Attractive 8.06% Cap Rate – Property is being offered at an attractive 8.06% cap rate, which translates to double-digit cash-on-cash returns at current market financing rates.
• Newly Executed Long-Term Lease – Tenant has committed to a brand new 20-year lease demonstrating strong commitment to the location.
• Hedged Credit Risk – Corporate Guarantee – The lease is corporately guaranteed by Original Footwear Company Inc., tenant's parent company.
• Mission-Critical Manufacturing Facility – The Property is Original Footwear's primary manufacturing facility and has been in operation for over 30 years.
• Diverse Revenue Channels and Strong Tenant Credit Profile – Original Footwear is a premier American footwear producer for the United States military defense and law enforcement apparatus, and sells shoes into 75 different countries via government contracts, direct-to-consumer, and brick and mortar revenue channels.