Arby’s

North Olmsted | Ohio (Cleveland MSA)

Offering Summary

  • Status: just listed
  • Price: $2,842,000
  • CAP Rate: 4.75%
  • GLA: 2,332 SF
  • Net Operating Income: $135,000
  • Year(s) Built: 2023
  • Lot Size (Acres): 0.68 Acres
  • Lease Type: Ground Lease
  • Major Tenants: Arby's
  • Brand-New Construction Arby’s 15-Year Ground Lease in North Olmsted, OH
  • 44,900 Cars/Day at Signalized Intersection of Lorain/Brookpark Roads
  • One of Cleveland’s Top Retail Trade Areas: 5.6 Million SF of Retail @ 98% Occupancy
  • Relocation & Franchisee-to-Corporate Transition of Arby’s Store #4 (In Operation Since the 1960’s on Adjacent Lot)
  • Lease Structure Provides Ability to Depreciate Certain Site Improvements
  • True Abs NNN Lease with ZERO Landlord Responsibilities – Tenant Maintains All Capital Items, Pays Taxes Direct, Carries All Insurance, etc.
  • 10% Rent Increases Every 5 Years of Primary Term & In Each Option
  • Infill/Affluent Demo’s: 8,753 People in 1-Mile, 165,936 in 5-Miles / $92K 3-Mile Avg. Household Income
  • Full Corporate Guaranty from Arby’s Restaurant Group, Inc.; Corporately-Owned RTM Operating Company, LLC Lessee Entity
  • High-Traffic Location Proximate to Super-Regional Mall & Major Power Centers
  • Arby’s “Inspire” Prototypical Structure with Double Drive-Thru; Modern All-Brick Façade
  • Arby’s is a Privately-Held Global QSR Chain with 3,400 Restaurants Worldwide; Founded in Ohio in 1964 with Strong Local Consumer Affinity for the Brand
  • Cleveland MSA – Home to a Population of Over 2 Million; Part of the Larger Cleveland-Akron-Canton CSA with a Population of 3.5 Million
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director