About This Restaurant
Investment Highlights
Brand New 20-Year Absolute NNN Lease with Attractive 7.00% Rental Escalations Every 5 Years! Constructed to Freddy?s latest prototype with 9-car stack drive-thru - slated for opening date/rent commencement on November 2023 (est.) 2023 Population: 161,485 and 2023 Avg. Household Income: $125,497 DJ Steakburgers, LLC is an experienced/seasoned owner/operator of 13 Freddy?s locations (all back the performance of the lease) Excellent drive-by visibility/access on Lorain Rd (main East/West thoroughfare in North Olmstead) where traffic counts exceed 23,970 CPD!
Executive Summary
(Building & Land) Fee Simple
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Fast Food Fast Food General Retail Bank General Retail Restaurant General Retail Storefront Fast Food
- Building Size 2,494
- Year Built 2024
- Price 3,460,000
- Price Per SF 1,387
- Cap Rate 6.75
- NOI 233,561
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.06
- Land Acres 0.96 AC
Amenities
- Restaurant
- Signage
- Drive Thru
Nearby Amenities & Transportation
| Retail | Giant Eagle | ||
| Retail | Planet Fitness | ||
| Retail | Starbucks | ||
| Retail | Scramblers | ||
| Retail | Marc's | ||
| Retail | KeyBank | ||
| Retail | Famous Dave's | ||
| Retail | Buffalo Wild Wings | ||
| Retail | Biggby Coffee | ||
| Retail | Boston Market |
Property Taxes
| Parcel Number | 232-12-012 | Improvements Assessment | $144,340 |
| Land Assessment | $0 | Total Assessment | $144,340 |
| Date Created: | 2024-07-16 04:18:04 | Last Updated: | 2024-07-16 04:18:04 |
| Address: | 27350 Lorain Rd , North Olmsted, Ohio, 44070 | ||