1900 Cooper Foster Park Rd W - Fast Food FOR SALE
Lorain, OH 44053 |
$3,320,061 USD
216-503-3610
1900 Cooper Foster Park Rd W
Lorain, OH 44053
HIGHLIGHTS
- Long Term Absolute NNN Lease – At closing, the tenant will execute a new 15-year absolute NNN lease featuring 10% rent increases every five years
- Established Franchisee – The franchisee has been operating Burger King restaurants since 1959
- Strong Retail Corridor – The property is located at a signalized intersection, providing multiple ingress and egress points.
- New Surrounding Development – The Corridor has benefited from several surrounding new home developments and senior housing facilities
- Strong Sales – The sale-leaseback rental rate is supported by an 8.5% rent-to-sales ratio over the trailing three years.
- Burger King “Reclaim the Flame” Initiative – Burger King is executing its multi-year “Reclaim the Flame” strategy to drive national sales growth
FOR SALE DETAILS
PRICE
$3,320,061 USD
PRICE/SF
$695 USD /SF
CAP RATE
5.95%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Burger King
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Fast Food
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1978
SPRINKLERS
-
PARKING SPACES
35
LAND DETAILS
LAND ACRES
0.94 AC
LAND SF
40,946 SF
ZONING
B-2
APN/PARCEL ID
02-02-004-106-020
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216-503-3610
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216-503-3610
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