Listed by Bang Realty, Charter Realty
$571,636
Little Caesars | Single-Tenant Corporate Net-Lease
Details
APN 0270213508000
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 1,540
Cap Rate 5.50%
NOI $31,440
Occupancy 100%
Tenancy Single
Brand/Tenant Pizza Hut, Dominos Pizza
Lease Type NN+
Lease Term 42.3
Lease Expiration 08/30/2028
Remaining Term 2.4
Rent Bumps Yes
Lease Options One 5-year Option
Broker Co-Op Yes
Year Renovated 2018
Acreage 0.768
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 04/28/1986
Occupancy Date 04/28/1986
Ground Lease No
Rare Low Price-Point Drive-Thru - Operating Location since 1986
Marketing description
We are pleased to present an opportunity to acquire a single-tenant, feesimple Little Caesars in Mansfield, Ohio, 100% leased on a net-lease basis to a corporate chain with a national footprint. The lease commenced in 1986 and features approximately 2.4 years of firm term remaining, with one 5-year renewal option at a 10% rent increase, showcasing tenant longevity providing built-in income growth and inflation protection
The property is strategically located along Park Avenue West (State Route 430), one of Mansfield’s primary east–west commercial corridors, offering strong visibility and consistent traffic flow. The property is directly adjacent to a Kroger-anchored destination grocery center and benefits from strong national co-tenancy, including Firestone, Family Dollar, Taco Bell, Burger King, Arby’s, Verizon, and Chase Bank - underscoring the corridor’s proven retail demand and long-term viability.
Mansfield is a centrally positioned, mid-sized Ohio city with direct access to U.S. Route 30 and Interstate 71, providing convenient connectivity to Columbus, Cleveland, and other major regional markets. As part of an established commercial corridor surrounded by residential neighborhoods and daily services, the site benefits from durable local traffic patterns rather than reliance on destination retail. This investment combines a recognizable national brand, passive net-lease structure, and strong roadway fundamentals, making it a compelling net lease opportunity in a strong Midwestern market supported by a diverse local employment base.
Investment highlights
- Little Caesars – Single-Tenant, Fee – Simple Net Lease Asset – 100% leased on an NN+ lease structure to a corporate quick-service restaurant chain with a national footprint
- Exceptional Tenant Longevity – Lease commenced in 1986, demonstrating nearly four decades of continuous operation at the site and long-term commitment to the trade area
- Rare Corporate Lease – Parent Company: Ilitch Holdings, Inc., a privately held Detroit based company with 5,500 Restaurants and also owns the Detroit Red Wings and Detroit Tigers
- Built-In Rent Growth – Approximately 2.6 years of firm term remaining with one 5-year renewal option at a 10% rent increase, providing contractual income growth and inflation protection
- Prime Park Avenue West Location – Positioned along State Route 430, one of Mansfield’s primary east–west commercial corridors, offering strong visibility and consistent traffic flow
- Grocery-Anchored Retail Synergy – Directly adjacent to a Kroger-anchored destination grocery center, driving recurring daily traffic and reinforcing the site’s retail fundamentals
- Strong National Co-Tenancy – Surrounded by established brands including Firestone, Family Dollar, Taco Bell, Burger King, Arby’s, Verizon, and Chase Bank, underscoring the corridor’s proven retail demand
- Excellent Access & Regional Connectivity – Convenient proximity to U.S. Route 30 and Interstate 71, providing efficient access to Columbus, Cleveland, and surrounding regional markets
- Established Community Trade Area – Located within an active commercial corridor surrounded by residential neighborhoods and daily services, supporting durable local traffic patterns
- Diversified Local Employment Base – Mansfield’s role as a centrally positioned, Ohio city supported by a diversified base of manufacturing, healthcare, education, logistics, and public-sector employment
Listing Contacts
Listed by Bang Realty, Charter Realty
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$31,440.00
$2,620.00/mo
Valuation Metrics
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DSCR
5.5%
Cap Rate
5.5%
ROI
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