Blue Habanero

Brecksville | Ohio

Offering Summary

  • Status: just listed
  • Price: $989,000
  • CAP Rate: 7.50%
  • GLA: 3,524 SF
  • Net Operating Income: $74,188
  • Price/SF: $281
  • Year(s) Built: 1949
  • Year(s) Renovated: 2021
  • Lot Size (Acres): 0.174
  • Lease Type: Modified NNN – Base-Year RET/INS, 100% of CAM
  • Prime Bite-Size Single-Tenant Investment Opportunity in Downtown Brecksville (Affluent Cleveland Suburb)
  • $119K / $120K / $115K AHHI’s within 1 / 3 / 5-Mi Radius Rings
  • Reported Extremely Strong Sales of $1.8 Million for 2023; Low 5% Rent-to-Sales Ratio
  • Popularity Further Exemplified by 408 Google Reviews Averaging 4.6 Stars
  • 4-Unit Corporate Lease Entity/Guaranty; the Ayala Family (Along with Partners) Owns & Operates 28 Restaurants Around Northeast Ohio
  • Tenant In-Place thru June 2028; 4+ Years of Term Remaining with 1% Annual Increases
  • Low $26/SF NNN Rent Level | Low Occupancy Cost Supports Long-Term Business Profitability
  • Opened Summer 2021 with Major Tenant Investment into Renovations
  • Upscale “Street Tacos & Tequila” Concept Catering to Local Affluent Population Base
  • 3,542 SF Sit-Down Restaurant with Large Bar Area and Bi-Fold Glass Storefront
  • Base Year Modified NNN Lease Structure Protects Landlord from NOI Slippage Due to any Future Tax or Insurance Increases
  • Minimal Landlord Responsibilities with 4% Management Fee taken out of NOI; 7.9% Cap Rate if Self-Managed
  • Benefits from Limited Competition – Only Mexican Restaurant in Brecksville
  • Just 1-Mile from I-77 Exit Ramps at Route 82 – I-77 Sees 25,690 VPD
  • Main & Main Location Just off the Intersection of Route 82 & Route 21 which sees a Combined 35,346 VPD
  • Numerous Non-Retail Traffic Drivers in Vicinity – South Hills Office Park, Brecksville Public Schools, Cleveland Clinic, MetroHealth, University Hospitals, and Cuyahoga Valley National Park
  • Walkable City-Center Location within Immediate Proximity to Heinen’s and Marc’s Grocery Stores, Coffee, Fitness, Salons, and Convenience Retail
EXCLUSIVELY LISTED BY:

Scott Wiles

Senior Managing Director