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Views: 40 DOM: 156 Updated: 04.29.24 Posted: 12.22.23 Status: Active

Summary

Price $1,600,000
Built/Renov 1989
Tenant Arby's
Cap Rate 6.88%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,450
Lease Start 06-01-2024
#Units 19
Price/SF $653.06
Expiration 04-30-2031
Tenant Type Fast Food/QSR
NOI $110,000
R. Term 6.11
Ownership Fee Simple
Rent/SF $44.90
Increases 7.5%/4/yrs
Pop 5Mi 147,817
Lot/AC 0.94
Options 0/0yrs
AHHI 5Mi $106,646

Lease Highlights

  • Arby’s has been operating in this location since 1989
  • Tenant recently extended the current lease term for an additional 7 years
  • Lease features a 7.5% rental increase in June 2027
  • Absolute NNN | Zero landlord responsibilities
  • Franchisee guaranteed by MJG Corporation, an experienced 19-unit Arby's operator and 2-unit Dairy Queen operator based out of New Mexico

Location Description

Arby’s is strategically located along Southern Boulevard SE, offering clear visibility and access to 21,900 vehicles passing by daily. Situated as a pad to Country Club Center, a shopping center anchored by Elevate Trampoline Park, Dollar General, and Planet Fitness, the property benefits from the prime location on Southern Boulevard SE, a key east/west retail thoroughfare. The area features...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Arby's
  • Guarantor:Franchisee
  • Company:MJG Corporation
  • # Units:19
  • Tenant S&P: B+
  • Moody’s: B2
  • Stock:Private

About Tenant

Arby’s is an American fast-food restaurant chain and the first nationally franchised sandwich restaurant brand. Founded in 1964 in Boardman, OH, the chain is well known for slow-roasted, sliced...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 9,632 83,911 159,345
2023 Total Population : 9,754 79,556 147,817
2023 Employed Civilian Pop : 4,233 36,642 68,358
2023 Total Businesses : 549 2,250 3,615
2023 Average Household Income : $ 99,170 $ 105,122 $ 106,646
2023 Total Consumer Spending : $ 360 M $ 2838 M $ 5268 M
2023 Median Age : 46 39 39
2023 Total Households : 4,202 31,408 57,615
2023 Pop Age 25+: Bachelor's Degree : 1,489 12,352 22,919
2023 Average Home Value : $ 264,620 $ 294,568 $ 310,753
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Southern Boulevard Southeast Kathy Rd SE 2022 19,000 0.07 mi
Southern Blvd SE Sally Cir SE 2017 21,900 0.10 mi
Country Club Drive Southeast Country Club Dr SE 2022 11,600 0.25 mi
Country Club Dr SE Oakmount Dr SE 2017 11,600 0.28 mi
Country Club Drive Southeast 2018 11,013 0.30 mi
Southern Boulevard Southeast 22nd SE 2022 25,732 0.34 mi
Southern Boulevard Southeast Sara Rd SE 2018 548 0.34 mi
Golf Course Road Southeast 2018 487 0.51 mi
Broadmoor Boulevard Southeast Lakeview Cir SE 2022 6,233 0.53 mi
Golf Course Rd SE Jane Cir SE 2017 11,900 0.53 mi

Listing Broker

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