About This Restaurant
Investment Highlights
Absolute NNN Lease - Zero Landlord Responsibilities - Tenant is Responsible for All Taxes, Insurance, Maintenance and Management on the Building 10% Rental Increase Upcoming in 2026 and 12.5% Increases Every 5 Years Thereafter Drive Thru Equipped Location with Ease of Access and Excellent Visibility and Signage 18 Years Remaining on the Lease with 4, 5 Year Options to Renew Excellent Location on Denison Avenue in a Densely Populated Cleveland Neighborhood Low Rent/SF Offers Minimal Downside and Significant Upside
Executive Summary
Absolute NNN Lease Structure | Zero Landlord Responsibilities | Tenant is Responsible for All Taxes, Insurance, Maintenance and Management on the Building20 Year Original Lease Term | 12 Years Remaining on Original TermMain on Main Signalized Intersection | Combined Traffic Counts Exceeding 65,000+ Vehicles Per DayHighly Desirable Location | Tennessee is a Tax Free Income State(2) 5-Year Options | 10% Rent Increase Every 5 YearsExcellent Demographics: 158,170 Population in 5-Mile RadiusAverage Household Income Exceeds $80,882 in 5-Mile RadiusNational Tenants Nearby Include: Chick-Fil-A, Taco Bell, Kroger, CVS Pharmacy, Walgreens, Hollywood 20 Cinema, Dollar General, Papa Johns, Five Guys, Aldi, Starbucks & More
Property Details
- Sale Type Investment
- Property Type Retail
- Property Subtype Fast Food
- Building Size 2,358
- Building Class C
- Year Built/Renovated 1972/2016
- Price 1,350,000
- Price Per SF 573
- Cap Rate 5.58
- NOI 75,339
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.10
- Land Acres 0.52 AC
Property Taxes
| Parcel Number | 016-02-006 | Improvements Assessment | $51,975 |
| Land Assessment | $136,360 | Total Assessment | $188,335 |
| Date Created: | 2024-07-16 04:18:05 | Last Updated: | 2024-07-16 04:18:05 |
| Address: | 6710 Denison Ave , Cleveland, Ohio, 44102 | ||