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Views: 42 DOM: 73 Updated: 11.04.24 Posted: 09.09.24 Status: Active

Summary

Price $2,181,000
Built/Renov 2024
Tenant Arby's (GL)
Cap Rate 5.50%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 2,357
Lease Start 08-12-2024
#Units 3,402
Price/SF $925.33
Expiration 08-31-2039
Tenant Type Fast Food/QSR
NOI $119,972
R. Term 14.9
Ownership Ground Lease
Rent/SF $50.90
Increases 10.0%/5/yrs
Pop 5Mi 132,575
Lot/AC 0.64
Options 5/5yrs/10%
AHHI 5Mi $104,534

Lease Highlights

  • Brand new 2024 construction
  • New 15-year ground lease with 5 (5-year) options to extend
  • The lease features 10% rental increases every 5 years throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Arby's is strategically located at the hard corner intersection of Main Street and Church Street, with access to a combined daily traffic count of 13,272 vehicles. The property is adjacent to the I-196 arterial, which sees 67,551 VPD. Additionally, it is surrounded by high-traffic shopping centers, including Meijer, which attracts 2.6 million annual visits and ranks in the top 10% of locations...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Arby's
  • Guarantor:Corp Rated
  • Company:Inspire Brands, Inc.
  • # Units:3,402
  • 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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Listing Broker

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