Arby's (GL)

2640 North Central Avenue, Humboldt, TN 38343

$1,588,000

Cap Rate 5.35%

Views: 159 DOM: 409 Updated: 10.15.24 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 12.8	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...

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Key Features

New construction
Dense retail corridor
Near major nationals
WalMart out-parcel
Major MSA
Income tax free state
Long 10+ yr lease
Favorable NN+ lease
Corporate Guarantee
Credit rated company

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Links

Arby's Wikipedia Arby's Wikipedia Humboldt, Tennessee Zip Code 38343 Broker Site Page

Maps

Local Information

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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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

Dan Yozwiak

Marcus & Millichap

Contact

27 Listings
3965 Views
7 Sold

Darpan Patel

Marcus & Millichap

Contact

27 Listings
3965 Views
7 Sold

Dan Yozwiak

Dan Yozwiak specializes in bringing a true value of representation to real estate investors through the disposition and acquisition of income producing properties. He is committed to helping clients create and preserve wealth by providing the best real estate investment research, advisory, and transaction services available. He has successfully advised and represented a number of high net worth individuals, private equity investors, merchant developers and institutions in the acquisition and di

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Darpan Patel

Darpan Patel joined Marcus and Millichap as an Associate in April of 2012. He was promoted to Senior Associate in April 2016 and elevated to First Vice President Investments in July 2019. Since joining Marcus & Millichap, Darpan has closed more than 300 transactions equating to more than $650 million of property sales in 32 states. His clients include developers, high net-worth investors, syndicators, medical professionals,, private equity funds and private investment groups. Mr. Pate

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