Arby's

1822 North Midland Drive, Midland, TX 79707

$2,444,035

Cap Rate 5.75%

Views: 113 Updated: 10.28.23 Posted: 10.28.23 Status: Inactive

Summary

Price $2,444,035	Built/Renov 1982	Tenant Arby's
Cap Rate 5.75%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,831	Lease Start 12-29-2015	#Units 230
Price/SF $863.31	Expiration 12-31-2035	Tenant Type Fast Food/QSR
NOI $140,532	R. Term 11.1	Ownership Fee Simple
Rent/SF $49.64	Increases 1.8%/1/yrs	Pop 5Mi 133,882
Lot/AC 0.62	Options 4/5yrs/1.75%	AHHI 5Mi $115,969

Lease Highlights

Arby’s has operated at this site for over 35 years
Arby’s absolute NNN lease features 12+ years of term remaining with 4 (5-year) renewal options | No Landlord obligations
The lease boasts rare 1.75% annual increases throughout the term and renewal options
This location is operated by Turbo Restaurants, a part of Sun Holdings Inc—which currently operates 230 Arby’s throughout TX

Location Description

Arby’s is located along Midland Drive (29,124 VPD), just north of its signalized intersection with TX-158 (35,615 VPD) and 1 mile from Texas State Highway Loop 250 (66,483 VPD). The site is feet from the 29-bed ContinueCare Midland Hospital, is immediately adjacent to ReNew Andrews Apartments (196 units) and is across from the Mosaic Apartments (76 units) and ReNew Andrews II Apartments (92...

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Key Features

In location for years
Dense retail corridor
Hospital close
Strong demographics
Income tax free state
Absolute NNN
Long 10+ yr lease
Annual rent increases
Top franchise operator
Credit rated company

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Links

Arby's Wikipedia Arby's Wikipedia Midland, Texas Zip Code 79707 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Arby's
Guarantor:Franchisee
Company:Turbo Restaurants
# Units:230
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 :	15,622	87,321	139,414
2023 Total Population :	15,179	84,651	133,882
2023 Employed Civilian Pop :	8,633	48,091	72,638
2023 Total Businesses :	354	2,830	5,782
2023 Average Household Income :	$ 92,979	$ 119,809	$ 115,969
2023 Total Consumer Spending :	$ 476 M	$ 3298 M	$ 4936 M
2023 Median Age :	35	36	35
2023 Total Households :	5,911	31,912	49,102
2023 Pop Age 25+: Bachelor's Degree :	2,255	15,059	21,091
2023 Average Home Value :	$ 270,194	$ 314,056	$ 314,743

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
North Midland Drive	Sinclair Ave	2020	22,470	0.05 mi
North Midland Drive	Thornberry Dr	2021	26,745	0.05 mi
North Midland Drive	Sinclair Ave	2019	27,721	0.05 mi
Sinclair Ave	N Midland Dr	2012	2,680	0.11 mi
Andrews Highway	N Midland Dr	2021	34,426	0.12 mi
Andrews Highway	Lockheed Ave	2021	30,421	0.14 mi
North Midland Drive	Lockheed Ave	2021	15,761	0.18 mi
Andrews Hwy	N Midland Dr	2015	29,012	0.21 mi
N Midland Dr	Sentinel Ave	2002	15,950	0.24 mi
McDonald St	Mc Donald St	2012	1,450	0.31 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
15513 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
15692 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
15672 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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