Listed by Marcus & Millichap - Manhattan
$1,255,160
Arby's I Irreplaceable Signalized Corner
Details
APN P1316-05C
Property Type Retail
Sub Type Convenience Store, QSR/Fast Food
Square Footage 3,108
Cap Rate 5.75%
NOI $72,172
Occupancy 100%
Tenancy Single
Brand/Tenant Arby's
Lease Type Absolute NNN
Lease Term 55
Lease Expiration 12/30/2035
Remaining Term 9.4
Rent Bumps Yes
Lease Options 2, 5-Year
Pro-Forma NOI $72,172
Price per SqFt $404
Class A
Year Built 1980
Lot Size (SqFt) 18,826
Investment Type Net Lease
Tenant Credit Franchisee
Lease Commencement 12/31/1980
Ground Lease No
Strong Rent/Sales Ratio I Low Replaceable Rent
Investment highlights
- Absolute NNN Leased Arby's with No Landlord Management: Prime Location Arby’s with No Landlord Management Positioned at a Lighted Traffic Signal on a Highly Trafficked Section of South Brady Street (22,000 Vehicles Per Day (VPD)) in Davenport, Iowa
- High Traffic Location Positioned at an Irreplaceable Signalized Corner: Investors are Presented the Unique Opportunity to Acquire an Irreplaceable Parcel Positioned at a Signalized Intersection Directly Across from Roger Craig Stadium with Premium Visibility and Accessibility
- Healthy Rent to Sales Ratio Indicating Operational Success: This Arby’s Has Operated in Davenport Since 1981 and Currently Boasts a Rent to Sales Ratio of Approximately 7 Percent Indicating Continued Profitability and Stable Operational Fundamentals
- Low Rent/Price at Replacement Cost Fortifying Asset: While National Quick Service Restaurant Rents Have Soared, This Asset Features Enhanced Security with Rent at Just $72,172 Per Year ($23 Per Square Foot) Suggesting a High Degree of Replaceability
- Guaranteed by Turbo Restaurants US LLC, a Sun Holdings Subsidiary: Lease Guaranteed by Turbo Restaurants US, LLC, a 120 Unit Subsidiary of Sun Holdings, One of the Largest Franchisees in the World with Over 1,600 Restaurants in Operation and $2 Billion in Average Annual Revenue
- Positioned in Davenport, IA, the Leading City of the Quad Cities: Davenport Boasts a Dense Five-Mile Population Exceeding 164,000 Resident with an Average Household Income Over $83,000 Providing This Arby’s with an Ideal Consumer Base to Support the Store for Another 40 Years
Listing Contacts
Listed by Marcus & Millichap - Manhattan
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$72,172.00
$6,014.33/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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