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Views: 58 DOM: 174 Updated: 05.29.24 Posted: 12.21.23 Status: Active

Summary

Price $1,865,171
Built/Renov 2018
Tenant Arby's
Cap Rate 5.85%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,000
Lease Start 02-15-2018
#Units 60
Price/SF $948.80
Expiration 02-28-2038
Tenant Type Fast Food/QSR
NOI $109,113
R. Term 13.8
Ownership Fee Simple
Rent/SF $54.56
Increases 7.5%/5/yrs
Pop 5Mi 14,524
Lot/AC 1.64
Options 4/5yrs/7.5%
AHHI 5Mi $75,625

Lease Highlights

  • Arby’s has 14+ years remaining on the current lease term with 4 (5-year) options
  • Lease features 7.5% rental increase every 5 years throughout the initial term and at the start of each option
  • Absolute NNN | Zero landlord responsibilities
  • Lease guaranteed by Turbo Restaurants

Location Description

Arby's is strategically located on State Route 39, with access to 13,050 vehicles passing by daily. The property's prime location is further enhanced by its proximity to the North Central State College Kehoe Center, serving as a satellite campus for NCSC Mansfield. Moreover, the site is positioned on a stretch featuring four auto dealerships, all conveniently within walking distance. These...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Arby's
  • Guarantor:Franchisee
  • Company:Turbo Restaurants
  • # Units:60
  • 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 : 1,207 11,652 14,463
2023 Total Population : 1,216 11,750 14,569
2023 Employed Civilian Pop : 543 5,891 7,146
2023 Total Businesses : 61 316 381
2023 Average Household Income : $ 74,251 $ 71,305 $ 75,806
2023 Total Consumer Spending : $ 38 M $ 311 M $ 404 M
2023 Median Age : 53 43 44
2023 Total Households : 593 4,984 6,085
2023 Pop Age 25+: Bachelor's Degree : 160 822 1,019
2023 Average Home Value : $ 198,953 $ 163,798 $ 174,544
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Mansfield Ave Taylortown Rd 2018 13,150 0.39 mi
Mansfield Avenue George Hawk Rd 2021 11,219 0.62 mi
Mansfield Ave Mickey Rd 2003 13,050 0.85 mi
Riverview Drive River Bend Dr 2021 89 0.89 mi
Taylortown Road Plymouth Springmill Rd 2021 999 0.94 mi
Harriette Drive Glenwood Dr 2021 107 1.10 mi
Mickey Road S Gamble St 2021 3,655 1.29 mi
Plymouth-Springmill Road Taylortown Rd 2021 2,945 1.31 mi
South Gamble Street Stiving Rd 2021 4,257 1.32 mi
State Rte 96 Plymouth Springmill Rd 2003 4,500 1.41 mi

Listing Broker

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