loader
Join Free
Views: 93 DOM: 304 Updated: 08.14.24 Posted: 11.08.23 Status: Active

Summary

Price $1,588,000
Built/Renov 2022
Tenant Arby's (GL)
Cap Rate 5.35%
Lease Type NN+
Guarantor Corp Rated
Size/SF 2,000
Lease Start 08-05-2022
#Units 3,402
Price/SF $794.00
Expiration 08-30-2037
Tenant Type Fast Food/QSR
NOI $85,000
R. Term 12.12
Ownership Ground Lease
Rent/SF $42.50
Increases 10.0%/4/yrs
Pop 5Mi 12,009
Lot/AC 1.00
Options 5/5yrs/10%
AHHI 5Mi $62,020

Lease Highlights

  • Arby’s has 13+ years remaining on the current ground lease with 5 (5-year) options to extend
  • Lease features 10% rental increases throughout the initial term and at the start of each option
  • Favorable NN+ lease with landlord responsible to carry general liability policy covering land
  • Corporate guarantee by Inspire Brands, Inc

Location Description

Arby’s is strategically located along North Central Avenue with access to 10,300 vehicles per day. The site is situated as an outparcel to a Walmart anchored shopping center providing a direct consumer base for the site to draw from. Neighboring national/credit tenants include McDonalds, Dollar General, Auto Zone, Wendy’s, Taco Bell and more. The 5-mile trade area is supported by 12,009...

...

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...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 2,218 8,792 12,109
2023 Total Population : 2,252 8,627 12,005
2023 Employed Civilian Pop : 620 2,840 4,310
2023 Total Businesses : 102 351 387
2023 Average Household Income : $ 59,500 $ 60,163 $ 65,075
2023 Total Consumer Spending : $ 53 M $ 199 M $ 291 M
2023 Median Age : 44 45 44
2023 Total Households : 1,014 3,714 5,046
2023 Pop Age 25+: Bachelor's Degree : 115 556 930
2023 Average Home Value : $ 150,570 $ 145,089 $ 175,487
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
FITZGERALD DR. N Central Ave 2020 809 0.20 mi
Fitzgerald Drive N Central Ave 2022 968 0.21 mi
Bradford Dr Shephard Dr 2003 5,740 0.34 mi
US Highway 45 Byp W Viking Dr 2012 13,855 0.50 mi
AVONDALE ST. Barrett Ln 2020 969 0.55 mi
Bradford Drive Hadley Dr 2022 7,137 0.56 mi
Avondale Street N 18th Ave 2022 1,041 0.57 mi
Carriage Ln 2022 17,408 0.60 mi
Barrett Ln 2021 17,514 0.60 mi
AVONDALE ST. N 18th Ave 2021 969 0.67 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity