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Views: 64 DOM: 34 Updated: 08.14.24 Posted: 08.13.24 Status: Active

Summary

Price $1,613,000
Built/Renov 2002/2023
Tenant Arby's
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,440
Lease Start 10-01-2023
#Units 121
Price/SF $468.90
Expiration 10-30-2043
Tenant Type Fast Food/QSR
NOI $92,744
R. Term 19.1
Ownership Fee Simple
Rent/SF $26.96
Increases 5.0%/5/yrs
Pop 5Mi 30,615
Lot/AC 0.98
Options 4/5yrs/5%
AHHI 5Mi $81,290

Lease Highlights

  • Arby's has 19+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by DRM, Inc. (121 units backed)

Location Description

Arby's is strategically located at the signalized, hard-corner intersection of 6th Avenue and Harrison Street, with access to a combined daily traffic count of 31,800 vehicles. The property is conveniently situated near Uptown Aberdeen Mall, a regional shopping center anchored by well-known national tenants including Kohl’s, Ashley Furniture, Marshalls, Harbor Freight, and more. The 5-mile...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Arby's
  • Guarantor:Franchisee
  • Company:DRM, Inc.
  • # Units:121
  • Tenant S&P: B+
  • Moody’s: B2
  • Stock:Private

About Tenant

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


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 11,901 29,097 30,862
2023 Total Population : 11,867 28,882 30,615
2023 Employed Civilian Pop : 6,118 15,253 16,209
2023 Total Businesses : 792 1,536 1,670
2023 Average Household Income : $ 61,058 $ 79,746 $ 81,290
2023 Total Consumer Spending : $ 287 M $ 868 M $ 933 M
2023 Median Age : 38 39 39
2023 Total Households : 5,326 12,436 13,125
2023 Pop Age 25+: Bachelor's Degree : 1,622 5,186 5,559
2023 Average Home Value : $ 183,584 $ 232,008 $ 238,694
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US 12 S Harrison St 2021 19,484 0.03 mi
6th Avenue Southeast 2019 18,971 0.03 mi
Hwy 12 E S Jackson St 2001 31,835 0.20 mi
3rd Ave SE High St S 2001 4,305 0.23 mi
Dakota St Hwy 12 E 2001 7,870 0.24 mi
Goodrich Ave SE S Lawson St 2001 1,160 0.26 mi
S Lawson St Goodrich Ave SE 2001 6,925 0.27 mi
8th Ave SE S Jackson St 2001 1,165 0.27 mi
LAWSON ST S Goodrich Ave SE 2020 3,846 0.30 mi
S Lawson St Goodrich Ave SE 2001 5,920 0.30 mi

Listing Broker

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