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Arby's

1201 East 1st Street, Grimes, IA 50111

$1,800,000

Cap Rate 5.67%

$1,854,545

Cap Rate 5.50%

DOM: 213 Updated: 02.12.24 Posted: 06.10.23 Status: Sold 01.09.24

Summary

Price $1,800,000 $1,854,545
Built/Renov 2021
Tenant Arby's
Cap Rate 5.67% 5.50%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,584
Lease Start 05-01-2023
#Units 98
Price/SF $696.59 $717.70
Expiration 04-30-2043
Tenant Type Fast Food/QSR
NOI $102,000
R. Term 17.12
Ownership Fee Simple
Rent/SF $39.47
Increases 5.0%/5/yrs
Pop 5Mi 74,546
Lot/AC 2.58
Options 4/5yrs/5%
AHHI 5Mi $132,559

Keith Sturm
Upland Real Estate Group, Inc.
Contact

Amanda Leathers
Upland Real Estate Group, Inc.
Contact

Deb Vannelli
Upland Real Estate Group, Inc.
Contact

Lease Highlights

  • Tenant has 20 years remaining on its current lease term with 4 (5-year) options to extend
  • Lease features a 5% rent increase in each option
  • Absolute NNN | Zero Landlord Responsibilities
  • Personal guarantee by DRM, Inc. (98 units backed)

Location Description

This newly constructed Arby’s is located along East 1st Street with access to 16,400 vehicles per day. The site benefits from being less than 1 mile from the on/off ramps of Hwy141, an east-west highway, which sees over 20,000 vehicles per day. National/credit tenants in the area include Starbucks, Hy-Vee, Walmart, Dollar Tree, GNC and many others. Additionally, the site is within close...

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Key Features

  • Signalized intersection

  • Hard corner intersection

  • Major thoroughfare

  • Highway close

  • Affluent AHHI $100K 5 Mi

  • Brand new lease

  • Long 20+ yr lease

  • Absolute NNN

  • Personal guarantee

  • Credit rated company

    • ...

Links

Arby's Wikipedia Arby's Wikipedia Grimes, Iowa Zip Code 50111 Broker Site Page

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: DRM, Inc.,
  • Guarantor:Franchisee
  • Company:DRM, Inc.,
  • # Units:98
  • Tenant S&P: B+
  • Moody’s: B2
  • Stock:Private

About Tenant

Arby’s is an American fast food sandwich restaurant chain and the first nationally franchised sandwich restaurant brand. Arby’s is the second-largest quick-service sandwich chain in the U.S.....


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,057 32,442 78,831
2023 Total Population : 8,635 31,181 75,601
2023 Employed Civilian Pop : 4,849 17,510 41,820
2023 Total Businesses : 211 800 2,469
2023 Average Household Income : $ 126,383 $ 143,319 $ 144,028
2023 Total Consumer Spending : $ 367 M $ 1389 M $ 3455 M
2023 Median Age : 36 36 38
2023 Total Households : 3,413 11,445 28,358
2023 Pop Age 25+: Bachelor's Degree : 1,828 7,048 18,452
2023 Average Home Value : $ 350,034 $ 356,427 $ 342,786
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
1st St Gateway Dr 2016 16,000 0.07 mi
IA 44 Gateway Dr 2020 6,797 0.12 mi
Gateway Dr S 3rd St 2008 7,300 0.13 mi
Little Beaver Ct Little Beaver Dr 2004 9,900 0.16 mi
N Little Beaver St 1st St 2016 1,480 0.18 mi
Little Beaver Dr Little Beaver Ct 2016 840 0.20 mi
1st St N Cir Dr 2016 16,400 0.22 mi
IA 44 NW 114th St 2020 375 0.32 mi
IA 141 E TO IA 44 W NW 70th Ave 2020 579 0.33 mi
Oakhurst Dr N Harvey St 2010 56 0.35 mi

Listing Broker

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