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Views: 105 DOM: 7 Updated: 09.11.24 Posted: 09.11.24 Status: Active

Summary

Price $2,053,000
Built/Renov 2007
Tenant Arby's
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp Rated
Size/SF 3,320
Lease Start 10-01-2007
#Units 3,402
Price/SF $618.37
Expiration 10-31-2034
Tenant Type Fast Food/QSR
NOI $123,177
R. Term 10.1
Ownership Fee Simple
Rent/SF $37.10
Increases 1.7%/1/yrs
Pop 5Mi 67,801
Lot/AC 1.21
Options 4/5yrs/1.7%
AHHI 5Mi $92,246

Lease Highlights

  • Arby’s has been operating in this location since 2007
  • The tenant has 10 years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 1.7% annual rental escalations throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Arby’s is strategically located on Speedway Drive, with access to 36,570 vehicles passing by daily. The property is within walking distance of the Cherry Valley Hotel and adjacent to the only gas station (Speedway) at the Thornwood Xing exit from State Road 16. The surrounding area boasts key educational institutions, including William H. McGuffey Elementary, Wilson Middle School, Newark...

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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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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,032 32,516 68,100
2023 Total Population : 4,010 32,407 67,801
2023 Employed Civilian Pop : 2,067 15,478 31,714
2023 Total Businesses : 111 1,215 2,563
2023 Average Household Income : $ 137,185 $ 105,197 $ 92,246
2023 Total Consumer Spending : $ 165 M $ 1129 M $ 2185 M
2023 Median Age : 39 40 40
2023 Total Households : 1,408 12,436 27,286
2023 Pop Age 25+: Bachelor's Degree : 903 5,502 9,275
2023 Average Home Value : $ 331,875 $ 276,467 $ 242,759
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Westgate Dr NE Cherry Valley Rd SE 2010 512 0.16 mi
2019 3,710 0.33 mi
RAMP FROM SR-16 EB TO THORNWOOD CROSSING Cherry Valley Rd NE 2021 2,563 0.33 mi
RAMP FROM THORNWOOD CROSSING TO SR-16 WB Fern Hill Dr 2021 2,918 0.37 mi
2019 4,227 0.37 mi
RAMP FROM THORNWOOD CROSSING TO SR-16 EB Cherry Valley Rd NE 2021 4,754 0.38 mi
RAMP FROM THORNWOOD CROSSING TO SR-16 EB Cherry Valley Rd NE 2020 4,399 0.38 mi
Newark Granville Rd Fern Hill Dr 2018 3,925 0.47 mi
RAMP FROM SR-16 WB TO THORNWOOD CROSSING Westwood Dr 2021 2,810 0.52 mi
Newark Granville Road Westwood Dr 2021 4,476 0.55 mi

Listing Broker

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