McAlister's Deli

6768 Pearl Road, Middleburg Heights, OH 44130

$2,600,000

Cap Rate 5.75%

Views: 268 DOM: 257 Updated: 09.13.24 Posted: 04.09.24 Status: Active

Summary

Price $2,600,000	Built/Renov 2024	Tenant McAlister's Deli
Cap Rate 5.75%	Lease Type NN+	Guarantor Franchisee
Size/SF 3,429	Lease Start 04-22-2024	#Units 155
Price/SF $758.24	Expiration 04-30-2039	Tenant Type Fast Casual/Rest.
NOI $149,500	R. Term 14.4	Ownership Fee Simple
Rent/SF $43.60	Increases 10.0%/5/yrs	Pop 5Mi 229,318
Lot/AC 1.03	Options 3/5yrs/10%	AHHI 5Mi $80,095

Lease Highlights

Brand-new 2024 construction
Brand-new 15-year lease with 3 (5-year) options to extend
The lease features 10% rental increases every 5 years throughout the initial term and option periods
Favorable NN+ lease with landlord responsible for roof and structure | 20-yr roof warranty to be transferred to buyer at closing
Lease guaranteed by Southern Rock Restaurants, LLC

Location Description

McAlister's Deli is strategically located on Pearl Road, the primary retail thoroughfare, with access to 19,550 vehicles passing by daily. The property is an integral part of the Pearl Crossing new development, alongside Starbucks and WetGo Car Wash. Additionally, it holds a prominent location across the street from Southland Shopping Center, a power center anchored by BJ’s, Giant Eagle, and...

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Key Features

New construction
Roof guarantee
Dense retail corridor
Near major nationals
Dense 200M+ pop 5 mi
Top 100 MSA
Brand new lease
Long 15+ yr lease
Favorable NN+ lease
100+ unit franchisee backed

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Links

McAlister's Deli Wikipedia McAlister's Deli Wikipedia Middleburg Heights, Ohio Zip Code 44130 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: McAlister's Deli
Guarantor:Franchisee
Company:Southern Rock Restaurants, LLC
# Units:155
Stock:Private

About Tenant

McAlister’s Deli is an American chain of fast-casual restaurants featuring deli sandwiches, “giant spuds” (baked potatoes), soups, salads, and desserts, as well as catering items such as sandwich...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	10,087	83,574	225,194
2023 Total Population :	10,353	85,167	229,910
2023 Employed Civilian Pop :	5,295	44,698	121,922
2023 Total Businesses :	458	2,959	7,001
2023 Average Household Income :	$ 80,417	$ 81,442	$ 80,067
2023 Total Consumer Spending :	$ 301 M	$ 2683 M	$ 7040 M
2023 Median Age :	49	46	44
2023 Total Households :	4,328	37,994	101,192
2023 Pop Age 25+: Bachelor's Degree :	1,556	11,965	31,533
2023 Average Home Value :	$ 190,433	$ 188,334	$ 191,637

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Pearl Rd	W 130th St	2000	21,090	0.04 mi
W 130th St	Pearl Rd	2013	16,349	0.06 mi
Pearl Rd	W 130th St	2004	21,700	0.09 mi
W 130th St	Pearl Rd	2013	12,254	0.11 mi
W 130th St	Big Creek Pkwy	2003	14,500	0.17 mi
Big Creek Pkwy	Scenic PkOval	2000	7,433	0.20 mi
Pearl Rd	Southland Dr	2008	39,315	0.22 mi
Big Creek Pkwy	W 130th St	2012	5,737	0.25 mi
W 130th St	Big Creek Pkwy	2004	12,300	0.27 mi
BIG CREEK PKWY	Lawnwood Ave	2020	4,880	0.32 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
30177 Views
21 Sold

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
31315 Views
23 Sold

Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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