About This Restaurant
Investment Highlights
Excellent 6% Rent to Sales. The tenant on the lease, DRM, Inc., is one of the largest Arby?s franchisees and operates 121 Arby?s in 7 Midwest states. This property is located along Humiston Avenue where traffic counts average 8,600 vehicles per day and near Interstate 90. Arby?s is on a 20 Year, NNN Lease with 5% Rent Increases every 5 years. Located in an excellent retail location near Walmart, Hy-Vee, Kwik Trip, Caribou Coffee, and more. Population of 14,512 and average household income of $76,190 within a 5-mile radius.
Executive Summary
DRM acquired the Arby?s business from another franchisee in October 2023 and will be remodeling this location in the Spring of 2024 to the Inspire image. Estimate $500,000+ remodel.Excellent 6% Rent to Sales.
Property Details
- Sale Type Investment
- Property Type Retail
- Property Subtype Fast Food
- Building Size 3,130
- Building Class C
- Year Built 1986
- Price 1,717,455
- Price Per SF 549
- Cap Rate 5.50
- NOI 94,460
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.10
- Land Acres 0.69 AC
- Opportunity Zone Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Taxes
| Parcel Number | 31-3859-000 | Improvements Assessment | $239,900 |
| Land Assessment | $380,100 | Total Assessment | $620,000 |
| Date Created: | 2024-07-16 04:16:20 | Last Updated: | 2024-07-16 04:16:20 |
| Address: | 1663 N Humiston Ave , Worthington, Minnesota, 56187 | ||