Listed by Encore Real Estate Investment Services, Encore Real Estate Investment Services NYC
$3,157,000
AYR Wellness & Jersey's Mike's
Details
Property Type Retail
Sub Type Restaurant, Shopping Center
Square Footage 7,780
Cap Rate 8%
NOI $252,569
Occupancy 100%
Tenancy Multi
Lease Type Net
Remaining Term 10
Price per SqFt $406
Year Renovated 2024
Buildings 1
Acreage 0.850
Investment Type Net Lease
Tenant Credit No Credit Rating
Long WALT W/ Annual Increases | Close Proximity to Indiana University of Pennsylvania
Investment highlights
- Limited Landlord Responsibilities with Attractive Annual Rent Increases - AYR’s lease features 3.00% annual rent escalations and Jersey Mike’s rent increases 2.00% annually throughout remaining base terms and option periods
- Long-Term, Steady Cash-Flow with a Weighted Average Lease Term Over 7 Years - Rare Drive-Thru Location for Jersey Mike's
- Best In Class Tenant, Anchored By Publicly Traded Cannabis Operator - AYR Wellness, Inc. is one of the largest publicly traded, vertically integrated, multi-state cannabis dispensary operators with 97 retail locations across 7 states
- Well Positioned on Oakland Ave & McKnight Blvd visible to over 14,657+ VPD | Corner Lot along primary thoroughfare
- Strategically Located Less than Two Miles from the Indiana University of Pennsylvania Campus, with Over 11,000+ Students - positively contributes to the local economy, increasing demand for retail services
- Immediate Retail Synergy & Adjacent to the Indiana Mall | Primary Retail Corridor in Indiana | 450,000 square foot shopping mall home to national retailers including Dunham’s Sports, Harbor Freight Tools, JCPenney, Kohl’s, and Maurices
- Close proximity to many national retailers Including: Walmart, ALDI, Lowe’s, Giant Eagle, PetSmart, and TJ Maxx, CVS, AutoZone, Advance Auto Parts, O'Reilly Auto Parts, Chipotle, Burger King, Wendy's, Popeye's and Many More
- Population within 3-miles exceeds 27,080 and growing with an average household income of $70,000
Listing Contacts
Listed by Encore Real Estate Investment Services, Encore Real Estate Investment Services NYC
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$252,569.00
$21,047.42/mo
Valuation Metrics
0
DSCR
8%
Cap Rate
8%
ROI
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