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Views: 65 DOM: 66 Updated: 09.27.24 Posted: 09.27.24 Status: Active

Summary

Price $966,000
Built/Renov 2002
Tenant Subway
Cap Rate 6.00%
Lease Type NN+
Guarantor Corporate
Size/SF 1,600
Lease Start 05-01-2002
#Units 37,000
Price/SF $603.75
Expiration 04-30-2026
Tenant Type Fast Food/QSR
NOI $57,978
R. Term 1.4
Ownership Fee Simple
Rent/SF $36.24
Increases 10.0%/2/yrs
Pop 5Mi 181,769
Lot/AC 0.75
Options 3/5yrs/10%
AHHI 5Mi $81,120

Lease Highlights

  • The tenant has 1+ years remaining on its lease term with 3 (5-year) options to extend
  • The lease features 10% rental increases at the beginning of each option period
  • Favorable NN+ lease with landlord responsible for roof
  • The tenant is currently paying below market rent
  • Corporate guaranteed lease

Location Description

Subway is strategically located near the signalized, hard corner intersection of Norton Road and Hall Road, with access to a combined daily traffic count of 23,700 vehicles. The property is conveniently situated near the on/off ramps of Interstate 270, which sees 79,500 VPD, serving as a primary thoroughfare for the Columbus metropolitan area. The surrounding area is home to prominent national...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Subway
  • Guarantor:Corporate
  • Company:Subway Restaurants, Inc.
  • # Units:37,000
  • Stock:Private

About Tenant

Subway is an American multinational fast-food restaurant franchise that primarily sells submarine sandwiches (subs), wraps, salads, and beverages, and is known for its motto “Eat Fresh”. Subway...


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