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32634477
32634478

1790 Hilliard Rome Road, Hilliard, OH 43026

DC
CA 01513027
Pegasus Investments
DA
CA CA 02011508
Pegasus Investments
CA
CA 02181089
Pegasus Investments
NP
CA CA 02417974
Pegasus Investments
Listed by Pegasus Investments
$3,500,000
24 days on market
Updated 24 days ago

CAVA | 15-Yr Corporate Lease | Columbus MSA

Details
APN 560-249893
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 2,882
Cap Rate 5.35%
NOI $3,500,000
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 15
Lease Expiration 04/28/2041
Remaining Term 15
Rent Bumps Yes
Lease Options 3, 5-Year Options
Year Built 2026
Buildings 1
Stories 1
Acreage 1.000
Zoning LC4-H-35
Parking Spaces 57 spaces
Parking Per SqFt 19.78
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/29/2026
Occupancy Date 04/29/2026
Ground Lease No
Ownership Fee Simple

Outparcel to Target-Anchored Center with 1.2M Annual Visits in Fast-Growing Submarket

Marketing description

  • Rapidly Expanding Tenant: CAVA opened 72 new stores in 2025, increasing to 439 locations, and has set a target to surpass 1,000 locations by 2032. Additionally, revenue increased 23% YoY in 2025 and has grown by 61% since 2023. CAVA is the 6th largest publicly traded QSR (NYSE: CAVA) with a market capitalization exceeding $9 billion
  • Fast Growing Market With Strong Demographics: Hilliard has experienced more than 30% population growth since 2010 and is projected to expand an additional 50% through 2050. The Property benefits from strong underlying demographics, including average household incomes approaching $100,000 within a one-, three-, and five-mile radius
  • Best-in-Class Line Up of QSRs: The Property is surrounded by best-in-class QSRs: Chick-fil-A, Chipotle, McDonalds, Starbucks, McAlister’s Deli, Krispy Kreme, Taco Bell, Applebee’s, Five Guys, Arby’s, IHOP, Burger King and more
  • Outparcel to Target Anchored Center: The Property sits strategically as an outparcel to a Target which draws over 1.2M annual visitors (Per Placer.ai).
  • New 15-Year Corporate Lease: The Property is secured by a new 15-year corporate lease with CAVA, one of the fastest growing QSRs in the nation
  • 10% Rent Increases Every 5 Years: The lease is subject to 10% rent increases every 5 years throughout the base term and three option periods
  • Minimal Landlord Responsibility: The tenant is responsible for all expenses except the roof and structure. However, upon full roof replacement, maintenance obligations then transfer to the tenant going forward, creating a path to a triple net (NNN) lease structure
  • Newly Renovated Property: CAVA opened its doors in April 2026, following a complete renovation of the property from a prior QSR operator
  • Convenient Access To The 5th Largest Highway System In The US: Hilliard Rome Road provides direct access to Interstate 70, the main artery from Hilliard to Downtown Columbus

Investment highlights

Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell, Inc., as exclusive advisors to Seller, are pleased to present the fee simple interest in a CAVA drive-thru located in Columbus (Hilliard), Ohio (the “Property”). Originally a drive-thru QSR site, the Property was extensively remodeled for CAVA in 2026. The 2,882-square-foot building sits on a full acre and is leased directly to CAVA Mezze Grill, LLC, a wholly owned corporate entity of CAVA Group, Inc. (NYSE: CAVA), on a brand-new 15-year net lease. Backed by one of the most compelling growth companies in the restaurant industry, the Property is situated in a submarket that has consistently outperformed the broader Midwest for over a decade.

Positioned as an outparcel to a Target that generates over 1.2 million visits annually (per Placer.ai), the site also sits within a half mile of one of the strongest big-box concentrations in the Columbus metro including Sam’s Club, Meijer, Walmart Supercenter, Kohl’s, and Burlington. Further the QSR lineup along the corridor features a best in class line-up of national credit operators, including Chick-fil-A, Chipotle, Starbucks, McDonalds, Panda Express, Texas Roadhouse, and Outback Steakhouse. With virtually no remaining pad sites available along Hilliard Rome Road, opportunities of this caliber rarely come to market.

Hilliard has experienced exceptional demographic growth, with population increasing more than 30% since 2010 and projected to expand an additional 50% through 2050. The property benefits from a dense and affluent consumer base, with more than 189,000 residents within a five-mile radius and average household incomes approaching $100,000 within both the three- and five-mile trade areas. As part of the fastest-growing metropolitan area in the Midwest, Hilliard stands out as one of the strongest-performing submarkets within the greater Columbus MSA.

The Property fronts Hilliard Rome Road, a primary north-south corridor carrying approximately 23,000 vehicles per day with direct access to Interstate 70, the 5th largest highway system in the country and the main artery connecting Hilliard to Downtown Columbus. Positioned at the midpoint between I-70 and Roberts Road, the site draws from multiple directions and serves both the daily commuter and a dense, growing residential base with equal convenience.

Structured as a NN (Roof/Structure) corporate lease, the lease features 10% increases to base rent every 5 years through the base term and all three option periods. Notably, if the landlord elects to replace the roof, maintenance obligations then transfer to the tenant going forward, creating a clear and achievable path to a virtually “hands off” triple net (NNN) lease structure.

The offering is further strengthened by the continued momentum of CAVA, which generated $1.18 billion in fiscal 2025 revenue, representing 23% year-over-year growth. The brand currently operates 439 locations across 26 states and has outlined a long-term growth strategy targeting 1,000 locations by 2032. Notably, CAVA is a publicly traded company (NYSE: CAVA) with a market cap exceeding $9 Billion, the 6th largest publicly traded QSR by market cap.

Listing Contacts

DC
CA 01513027
Pegasus Investments
DA
CA CA 02011508
Pegasus Investments
CA
CA 02181089
Pegasus Investments
NP
CA CA 02417974
Pegasus Investments
Listed by Pegasus Investments

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Additional Information

Name
Scott Reid
License
BRKP.2020001224 (OH)
Brokerage
ParaSell, Inc.
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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