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 |