Former QSR / Commercial Redevelopment Opportunity
Retail | Single tenant | Former Fazoli's
Marketing description
Strategically positioned on the Interstate 70 corridor at one of Richmond's highest-traffic commercial nodes, this freestanding former Fazoli's presents a compelling multi-use opportunity for investors, franchise operators, and developers alike. The building conveys fully equipped with commercial kitchen infrastructure and a functional drive-thru lane, providing a rare, immediate-occupancy advantage that dramatically compresses time-to-open and reduces build-out capital requirements for the right operator.
Richmond serves as the urban and economic hub of Wayne County and anchors a seven-county trade region with over 209,000 residents and a regional income base exceeding $10.4 billion. The E. National Road corridor has evolved into one of Indiana's strongest retail concentrations east of Indianapolis - anchored by Walmart, Lowe's, Kohl's, AMC Theatres, Cracker Barrel, Bob Evans, Taco Bell, and Walgreens, establishing consistent consumer traffic that supports virtually every QSR, fast-casual, and service retail format.
The property's location near the Indiana-Ohio state line adds a meaningful transient traffic component. With I-70 terminating at the Ohio border just miles east, this site captures both inbound and outbound interstate travelers - a dual demand driver that distinguishes it from comparable Richmond retail pads. Additional institutional traffic generators within five miles include Reid Health, Indiana University East, Ivy Tech Community College, and Earlham College. Three deal structures are available to accommodate the full range of ownership, franchise, and developer requirements: purchase the land and building outright, lease the existing space as-is on a NNN basis, or pursue a land lease for ground-up build-to-suit development.
Investment highlights
- Turnkey commercial kitchen - full equipment package conveys with sale or lease; no build-out required
- Drive-thru infrastructure in place - existing lane and service window eliminates permitting delays
- Direct I-70 corridor access - high visibility and easy ingress/egress on the primary Indianapolis-to-Dayton artery
- Indiana-Ohio gateway position - one of the last major commercial stops before the state line, capturing interstate transient demand
- Dense national co-tenancy - Walmart, Lowe's, Kohl's, Cracker Barrel, McDonald's, Walgreens, AMC Theatres, and more in immediate proximity
- 209,000+ trade area residents - seven-county region with $10.4B in regional income and a labor force exceeding 100,000
- Strong employment base - top regional sectors include manufacturing, healthcare, retail, and food service
- Institutional demand drivers - Reid Health, IU East, Ivy Tech, and Earlham College all within five miles
- Flexible deal structure - purchase, NNN lease, or land lease available to meet owner-operator, franchise, and developer needs
- Broad use flexibility - QSR, fast-casual, retail, service, or full redevelopment; the pad supports multiple formats
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