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Views: 106 DOM: 241 Updated: 10.28.24 Posted: 03.25.24 Status: Active

Summary

Price $1,455,000
Built/Renov 1998/2023
Tenant Arby's
Cap Rate 5.60%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,238
Lease Start 05-01-2024
#Units 121
Price/SF $449.35
Expiration 04-30-2044
Tenant Type Fast Food/QSR
NOI $81,459
R. Term 19.5
Ownership Fee Simple
Rent/SF $25.16
Increases 5.0%/6/yrs
Pop 5Mi 32,716
Lot/AC 1.06
Options 4/5yrs/5%
AHHI 5Mi $68,882

Lease Highlights

  • Arby’s will be executing a brand-new 20-year with 4 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by DRM, Inc. (121 units backed)

Location Description

Arby's is strategically located on I-380, with access to a significant daily traffic count of 77,900 vehicles, offering direct on/off ramp access for travelers. Conveniently positioned 2.5 miles from downtown Evansdale and 7 miles from downtown Waterloo, the immediate vicinity is surrounded by well-known national retailers such as McDonald's, Dollar Tree, Dollar General, Staples, Best Buy, and...

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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 : 1,750 9,757 32,374
2023 Total Population : 1,786 9,920 32,716
2023 Employed Civilian Pop : 860 5,036 15,890
2023 Total Businesses : 41 236 1,010
2023 Average Household Income : $ 74,882 $ 72,143 $ 68,882
2023 Total Consumer Spending : $ 47 M $ 274 M $ 841 M
2023 Median Age : 44 43 39
2023 Total Households : 725 4,371 14,000
2023 Pop Age 25+: Bachelor's Degree : 123 748 3,043
2023 Average Home Value : $ 192,504 $ 186,460 $ 183,426
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Evansdale Dr Doris Dr 2017 8,500 0.05 mi
Evansdale Dr Doris Dr 2017 9,300 0.10 mi
Gilbertville Rd Plz Dr 2009 2,610 0.12 mi
Gilbertville Rd Plz Dr 2001 1,530 0.13 mi
I- 380 2022 2,430 0.17 mi
2015 3,830 0.21 mi
I- 380 2022 1,130 0.27 mi
I 380 TO EVANSDALE DR Lainee Dr 2020 724 0.36 mi
Michigan Dr 2022 2,930 0.38 mi
Evansdale Dr 2022 3,050 0.39 mi

Listing Broker

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