Listed by ParaSell Inc, Sands Investment Group Los Angeles, Sands Investment Group Charleston
$628,000
White Castle - Circleville, OH
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 2,200
Cap Rate 7.01%
NOI $44,000
Occupancy 100%
Tenancy Single
Brand/Tenant White Castle
Lease Term 28.2
Lease Expiration 07/01/2027
Remaining Term 1.1
Rent Bumps No
Lease Options 3 x 1 Year Options
Price per SqFt $285
Year Built 1999
Buildings 1
Acreage 0.580
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/27/1999
Ground Lease Yes
Corporate Guarantee | White Castle | Columbus MSA | High-Traffic Corridor
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 2,200 SF White Castle located at 24599 US Highway 23 South in Circleville, Ohio, approximately 20 miles south of Columbus. The property is secured by a corporate-guaranteed ground lease backed by White Castle System, Inc., which has successfully operated at this location since 1999. Positioned directly on US Highway 23, the site offers strong visibility and access within the Columbus MSA.
Investment highlights
- Corporate Ground Lease Backed by White Castle: Guaranteed by White Castle System, Inc., a national QSR brand operating 345+ locations across 13 states.
- Recently Exercised Option: White Castle recently exercised their option period, showing a strong continued commitment to this site and market.
- 3, 1-Year Options Remaining: White Castle has 3, 1-year option periods remaining, each starting July 1, with the potential to extend the lease through June 2030.
- Proven Operating History Since 1999: White Castle has successfully operated at this location for over 25 years, demonstrating long-term commitment.
- High-Traffic US-23 Location: Positioned directly on US Highway 23, a primary north-south retail corridor with 29,000+ vehicles per day, providing excellent visibility and accessibility.
- Columbus MSA Location: Located approximately 20 miles south of Columbus.
- Established National Brand: White Castle, founded in 1921 and headquartered in Columbus, Ohio, is America’s first fast-food hamburger chain with over 100 years of operating history.
Listing Contacts
Listed by ParaSell Inc, Sands Investment Group Los Angeles, Sands Investment Group Charleston
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$44,000.00
$3,666.67/mo
Valuation Metrics
0
DSCR
7.01%
Cap Rate
7.01%
ROI
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