Popeyes | New 20-Yr Abs NNN | Cleveland 2168 Mentor Ave

Investment Highlights

Brand New 2024 Construction (Rare Brick Prototype) Located Adjacent to Super Target Anchored Shopping Center Dense Retail Trade Area with Over 104,000 Residents in 5-Miles 20-Year Absolute NNN Lease with 10% Increases Every 5-Years Traffic Counts Exceed 21,000 Vehicles Per Day on Mentor Ave Average Household Income Exceeds $107,000 (5-Mile Radius)

Executive Summary

The subject property is a newly constructed Popeyes drive-thru located in Painsville (Cleveland), OH. The brand new 20-year absolute NNN lease includes 10% rental increases every 5-years in the primary term and in the (4) five-year option periods.The property is strategically located in the heart of the retail corridor adjacent to a new Super Target anchored shopping center. The site benefits from its excellent visibility along one of the most heavily trafficked thoroughfares in Cleveland (Mentor Avenue) which boasts over 21,000 vehicles per day. Within 5-miles of the subject property there are 104,000 residents with an average household income exceeding $107,000 annually.National retailers in the immediate vicinity include Target, CVS Pharmacy, Starbucks, ULTA, Chick-Fil-A, Kohl?s, GNC, Panera Bread, Great Clips, HomeGoods, Five Below, Bank of America, Longhorn Steakhouse, Walmart, T-Mobile, Staples, GameStop, PetSmart, Five Guys, Party City, Panda Express, Chipotle, Walgreens, Verizon, Taco Bell, Trader Joes, AT&T, Lowe?s, Dunkin? Donuts, Valvoline, Harbor Freight, Arby?s, ALDI, Sherwin Williams, Tractor Supply, Goodwill, and many more. This is an excellent opportunity for an investor to purchase a stable, long-term investment with zero landlord responsibility.

• Sale Type    Investment NNN
• Property Type    Retail
• Property Subtype    Fast Food Fast Food General Retail Freestanding General Retail Restaurant General Retail Storefront Fast Food
• Building Size    2,797
• Building Class    B
• LoopNet Rating    4 Star
• Year Built    2024
• Price    2,913,043
• Price Per SF    1,041
• Cap Rate    5.75
• NOI    167,500
• Tenancy    Single
• Building Height    1 Story
• Building FAR    0.05
• Land Acres    1.20 AC