Arby's | New 20yr Abs NNN | DrThru 1333 Edgewood Rd SW

1333 Edgewood Rd SW , Cedar Rapids, Iowa, 52404 | 3,219 sq.f | $ 2,300,000

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About This Restaurant

Investment Highlights

Brand New 20-Year Lease | DRM, Inc. (121-Units) | 5% Increases |4 (5-Year) Options Fronting Edgewood Road SW | Surrounding National Retailers | Drive-Thru Equipped | Residential Consumer Base Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities

Executive Summary

? The tenant recently signed a brand new 20-year lease with 4 (5-year) options to extend, demonstrating their long-term commitment to this location? The lease features 5% rental increases every 5 years throughout the initial term? Founded in 1964, Arby?s is among the largest QSR sandwich chains with over 3,500 operating restaurantsERIN ROONEY, CCIMAssociateNAI United erin@naiunited.comD: 712.224.2727 | M: 712.898.8372 400?Gold?Circle, Suite?120 Dakota?Dunes, SD 57049IA License No. S42992000

Property Details

  • Sale Type    Investment NNN
  • Property Type    Retail
  • Property Subtype    Restaurant Restaurant General Retail Fast Food General Retail Freestanding Restaurant
  • Building Size    3,219
  • Building Class    C
  • Year Built/Renovated    1984/2023
  • Price    2,300,000
  • Price Per SF    715
  • Cap Rate    5.63
  • NOI    129,467
  • Tenancy    Single
  • Building Height    1 Story
  • Building FAR    0.07
  • Land Acres    1.03 AC

Amenities

  • Restaurant
  • Signage
  • Drive Thru

Nearby Amenities & Transportation

Retail Country Kitchen
Retail Anytime Fitness
Retail Wells Fargo Bank
Retail Bonanza Steakhouse
Retail ALDI
Retail Pancheros Mexican Grill
Retail Jazzercise
Retail Buffalo Wild Wings
Retail Scooter's Coffeehouse
Retail Starbucks

Property Taxes

Parcel Number 14303-56011-00000 Improvements Assessment $412,000
Land Assessment $627,300 Total Assessment $1,039,300
Date Created: 2024-07-16 04:13:37 Last Updated: 2024-07-16 04:13:37
Address: 1333 Edgewood Rd SW , Cedar Rapids, Iowa, 52404