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7 Brew Coffee (GL)
1637 North Memorial Drive, Lancaster, OH 43130
$1,500,000
Cap Rate 6.00%
Summary
| Price $1,500,000 | Built/Renov 2023 | Tenant 7 Brew Coffee (GL) |
| Cap Rate 6.00% | Lease Type
Abs NNN | Guarantor Franchisee |
| Size/SF
530
| Lease Start
11-01-2023
| #Units
2
|
| Price/SF $2,830.19 | Expiration
10-31-2038
| Tenant Type Fast Food/QSR |
| NOI $90,000 | R. Term 14.10 | Ownership Ground Lease |
| Rent/SF
$169.81
| Increases 10.0%/6/yrs | Pop 5Mi 52,324 |
| Lot/AC 0.38 | Options 1/10yrs/10% | AHHI 5Mi $80,006 |
| | |
Lease Highlights
- Brand-new 2023 construction
- 7-Brew Coffee recently signed a brand-new 15-year ground lease with 1 (10-year) and 1 (5-year) options to extend
- Lease features 10% rental increase every 5 years throughout the initial term and each option
- Absolute NNN | Zero landlord responsibilities
- Lease is backed by the Motley 7 Brew, LLC which currently has 2 stores open and operating with an additional two sites set to open by year-end | Plan to have 15+ units open by the end of 2024 and are obligated to open at least 60 units
Location Description
7 Brew Coffee is strategically located on North Memorial Drive, providing excellent access and visibility to 25,750 vehicles passing by daily. The property is an outparcel within the Hocking Valley shopping center, which is anchored by Kroger, Home Goods, and PetSmart. Additionally, in close proximity, is the River Valley Mall and Lancaster Plaza, featuring more well-known national retailers...
...Features
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New construction
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New prototype
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Dense retail corridor
-
Near major nationals
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Shopping Ctr out-parcel
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Top 100 MSA
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Brand new lease
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Long 15+ yr lease
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Absolute NNN
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Personal guarantee
...
Maps
Tenant
- Tenant: 7 Brew Coffee
- Guarantor:Franchisee
- Company:Motley 7 Brew, LLC
- # Units:2
- Stock:Private
About Tenant
7 Brew Coffee is an American drive-thru coffee chain that focuses on bringing high-quality, locally roasted, and fresh coffee beans to the market. The Arkansas-based coffee stands have a retro...
...
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 7,946 | 43,574 | 53,588 |
| 2023 Total Population : | 7,762 | 42,442 | 52,324 |
| 2023 Employed Civilian Pop : | 3,427 | 19,280 | 23,567 |
| 2023 Total Businesses : | 385 | 1,604 | 1,910 |
| 2023 Average Household Income : | $ 67,725 | $ 73,124 | $ 80,006 |
| 2023 Total Consumer Spending : | $ 198 M | $ 1146 M | $ 1512 M |
| 2023 Median Age : | 41 | 41 | 42 |
| 2023 Total Households : | 3,329 | 17,864 | 21,622 |
| 2023 Pop Age 25+: Bachelor's Degree : | 670 | 4,160 | 5,633 |
| 2023 Average Home Value : | $ 213,217 | $ 232,985 | $ 258,903 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Pierce Avenue | N Pierce Ave | 2021 | 6,815 | 0.24 mi |
| N Memorial Dr | Pierce Ave | 2018 | 27,143 | 0.26 mi |
| North Columbus Street | Nelson | 2021 | 11,250 | 0.27 mi |
| N Columbus St | Neosa | 2019 | 9,419 | 0.35 mi |
| MEMORIAL DR | Plaza Way | 2021 | 27,827 | 0.36 mi |
| Baltimore Rd NW | N Columbus St | 2018 | 6,276 | 0.41 mi |
| GOODWIN AVE | Fair N | 2021 | 124 | 0.44 mi |
| GOODWIN AVE | 2020 | 116 | 0.44 mi | |
| N Memorial Dr | PkSt | 2014 | 32,336 | 0.44 mi |
| N Pierce Ave | Fair N | 2008 | 10,387 | 0.45 mi |
