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Arby's

5990 Neal Avenue North, Oak Park Heights, MN 55082

$1,750,000

Cap Rate 5.52%

Views: 181 DOM: 789 Updated: 08.06.24 Posted: 09.26.22 Status: Active

Summary

Price $1,750,000
Built/Renov 1999
Tenant Arby's
Cap Rate 5.52%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 4,337
Lease Start 02-20-2021
#Units 3,402
Price/SF $403.50
Expiration 12-31-2031
Tenant Type Fast Food/QSR
NOI $96,600
R. Term 7.1
Ownership Fee Simple
Rent/SF $22.27
Increases 5.0%/5/yrs
Pop 5Mi 46,089
Lot/AC 1.39
Options 2/5yrs/8%
AHHI 5Mi $142,211

Matthew Mousavi
SRS National Net Lease Group
Contact

Patrick Luther
SRS National Net Lease Group
Contact

Lease Highlights

  • The tenant, Franchise Associates LLC, has approximately 9 years remaining in their initial lease term with 2 (5-year) options to extend
  • Lease features a 5% rental increase in August 2026 and 8% increases at the beginning of each option period
  • Corporate guaranteed by RTM, Inc., a subsidiary of Arby’s Restaurant Group, Inc.
  • Absolute NNN lease

Location Description

Arby’s is strategically located just off State Highway 36 (40,500 VPD), a major commuter highway leading directly into the heart of the Minneapolis metropolitan area. Additionally, the property is ideally situated with proximity to both Walmart Supercenter and Target, two premium big-box tenants that significantly increase consumer draw to the immediate trade area. Other nearby...

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Key Features

  • Oversized lot

  • Major thoroughfare

  • Dense retail corridor

  • Strategically located

  • Central metro location

  • Highway close

  • Affluent AHHI $100K 5 Mi

  • Affluent suburb location

  • Absolute NNN

  • Top franchise operator

    • ...

Links

Arby's Wikipedia Arby's Wikipedia Oak Park Heights, Minnesota Zip Code 55082 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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
2027 Total Population : 3,851 31,785 47,157
2022 Total Population : 3,811 30,751 45,437
2022 Employed Civilian Pop : 1,674 14,162 21,659
2022 Total Businesses : 439 1,399 1,709
2022 Average Household Income : $ 154,311 $ 143,414 $ 154,258
2022 Total Consumer Spending : $ 202 M $ 1411 M $ 2223 M
2022 Median Age : 46 44 44
2022 Total Households : 1,573 11,724 17,226
2022 Pop Age 25+: Bachelor's Degree : 898 6,184 9,616
2022 Average Home Value : $ 478,757 $ 435,585 $ 462,732
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Stillwater Blvd N Hwy 36 2017 23,300 0.11 mi
Curve Crest Blvd 62nd St N 2017 1,500 0.18 mi
Stillwater Blvd N Hwy 36 2019 20,100 0.18 mi
Curve Crest Blvd 62nd St N 2013 1,300 0.29 mi
Memorial Ave N 58th St N 2019 32,000 0.34 mi
Market Dr Curve Crest Blvd W 2017 3,650 0.35 mi
Curve Crest Blvd Long Lake Dr 2017 2,200 0.36 mi
Curve Crest Blvd W Market Dr 2017 10,800 0.38 mi
Stillwater Blvd N Stillwater Blvd N 2019 23,100 0.40 mi
State Hwy 36 Manning Ave N 2017 40,500 0.51 mi

Listing Broker

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