1575 S Water St - Fast Food FOR SALE


Kent, OH 44240
$795,000 USD
510-379-1233
1575 S Water St, Kent, OH for Sale
$795,000 USD
Fast Food - FOR SALE
1/4
null | 11.12% Cap Rate

1575 S Water St
Kent, OH 44240


HIGHLIGHTS

  • Current rent is $7,364.15 per month. Lease expires on 6/29/2026. Pro Forma NOI for year 2026 is $88,369.80. Upside for re-position or User
  • Located 0.60 miles from Kent State University (25,630 enrollment situated on approx. 866 acres)and near major retail destinations.
  • Situated in Kent’s commercial corridor with strong visibility and accessibility.
  • Remodeled in year 2016. Parcel of one acre provides for ample parking.
  • Absolute NNN Lease.
  • High traffic count of 17,000 VPD on S. Water St.

OVERVIEW

The lease expires on 6/29/2026 providing an investor the upside opportunity to re-tenant or for owner/user. South Water Street is also known as State Highway 43 boasting a high traffic count of 17,000 VPD. The lease was signed with Carrols Restaurant Group. Carrols Restaurant Group was purchased by the parent company of Burger King (Restaurant Brands, Inc.) in year 2024. The subject site is located near many local and national businesses. Notable tenants in the immediate area on State Highway 43 include Chase bank, Key Bank, Portage Community Bank, McDonalds, CVS, Dunkin, Kentwood Square, O'Reilly's Auto Parts, etc. BOR - Michael Glass

FOR SALE DETAILS

PRICE

$795,000 USD

PRICE/SF

$210 USD /SF

CAP RATE

11.12%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.02 AC

LAND SF

44,431 SF

ZONING

-

APN/PARCEL ID

17-006-00-00-025-000

ASK ABOUT THIS PROPERTY

David ChingMarcus & MillichapMore Info
510-379-1233

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David ChingMarcus & MillichapMore Info
510-379-1233

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.