Arby’s Bellevue, Ohio

$1,616,000
Cap Rate: 6.00%
Available
Property type: Single-Tenant Net Lease

Property Details

Cap Rate: 6.00%
Price: $1,616,000
Rentable Square Feet: 2,791
Annual Rent: $96,950
Price PSF: $579.00
Land Area: 0.55 Acres
Year Built/Renovated: 1997/2017
Lease Type: NNN
Lease Term: 20 Years
Option Periods: 3, 5-Year Options
Rent Increases: 1.5% Annually
Lease Expiration: 10/31/2037

625 West Main Street
Bellevue, OH 44811

Investment Highlights

  • 20-Year, Triple Net Lease with 19 years remaining
  • Roof was replaced in September 2017, with a 15-year Roof Warranty
  • Three, Five-Year Option Periods with 1.5 Percent Rental Increases Annually
  • Property was Remodeled in 2017 Costing Approximately $550,000
  • Lease is guaranteed by D&J Giesen Inc. Which Owns and Operates 10 Arby’s

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an Arby’s located in Bellevue, Ohio. Arby’s offers a new, 20-year, triple net lease with 19 years remaining on the base term. There are three, five-year renewal options with 1.5 percent rental increases annually throughout the base term and option periods. The subject property consists of a 2,791-square foot free-standing building, situated on a 0.55-acre parcel and underwent a roof replacement in 2017.

The lease is guaranteed by D&J Giesen Inc. which owns and operates 10 Arby’s restaurants throughout central and northeast Ohio. The lease is personally guaranteed by the operator.

The subject property is one and a half miles from Bellevue Hospital, which was named one of the Top 100 Places to Work in Healthcare by Modern Healthcare Magazine. The hospital employs more than 450 medical staff and has a combined 119 physicians. Arby’s in Bellevue is also located 50 miles southeast of Toledo and 72 miles southwest of Cleveland.

Michael Glass
District Manager
Lic. # BRK.2007005898
(216) 264-2050

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