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Views: 66 DOM: 232 Updated: 03.14.24 Posted: 09.27.23 Status: Active

Summary

Price $3,280,000
Built/Renov 2006
Tenant Arby's
Cap Rate 5.01%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 3,315
Lease Start 09-01-2006
#Units 3,401
Price/SF $989.44
Expiration 03-01-2036
Tenant Type Fast Food/QSR
NOI $164,256
R. Term 11.9
Ownership Fee Simple
Rent/SF $49.55
Increases 5.5%/3/yrs
Pop 5Mi 72,848
Lot/AC 0.90
Options 3/5yrs/5.5%
AHHI 5Mi $87,880

Lease Highlights

  • Arby’s has been operating in this location since 2006
  • The tenant recently extended their lease through March 2036, leaving 12+ years of firm term remaining with 3 additional 5-year options to extend
  • The lease features 5.50% rental increases every 5 years throughout the initial term and options
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease with strong sales - contact agent for details

Location Description

Arby’s is strategically located along Airport Center Drive with clear visibility and access to an average of 21,161 vehicles passing by daily. The asset benefits from direct access onto I-95 (97,000 VPD) and I-295 (73,000 VPD), making this a centralized location with easy commutes. The freestanding building is equipped with a drive-thru to maximize both sales and convenience to the dense...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: RTM Operating Company
  • Guarantor:Corp Rated
  • Company:Inspire Brands Inc.
  • # Units:3,401
  • Tenant S&P: B+
  • Moody’s: B2
  • Stock:Private

About Tenant

Arby’s is an American fast food sandwich restaurant chain and the first nationally franchised sandwich restaurant brand. Founded in 1964 in Boardman, OH, the chain is well known for slow roasted,...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 5,311 31,176 75,071
2023 Total Population : 4,598 30,101 72,856
2023 Employed Civilian Pop : 2,451 14,886 36,079
2023 Total Businesses : 399 1,031 2,109
2023 Average Household Income : $ 71,384 $ 88,066 $ 87,883
2023 Total Consumer Spending : $ 127 M $ 892 M $ 2085 M
2023 Median Age : 38 38 37
2023 Total Households : 2,038 11,705 27,432
2023 Pop Age 25+: Bachelor's Degree : 479 3,825 9,702
2023 Average Home Value : $ 214,686 $ 287,401 $ 306,606
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Duval Rd E Duval Pl 2007 21,161 0.30 mi
Duval Rd I- 95 2009 16,900 0.44 mi
I- 95 2022 12,500 0.46 mi
Duval Rd 2022 9,000 0.46 mi
Duval Rd 2022 4,600 0.49 mi
Duval Rd 2022 19,000 0.52 mi
I- 95 Duval Rd 2019 3,400 0.58 mi
Duval Rd 2022 3,700 0.58 mi
Duval Rd Airport Rd 2004 24,682 0.65 mi
Duval Road Owens Rd 2022 11,000 0.65 mi

Listing Broker

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