283 B Benedict Ave - Fast Food FOR SALE
Norwalk, OH 44857 |
$2,536,090 USD
216-503-3610
283 B Benedict Ave
Norwalk, OH 44857
HIGHLIGHTS
- Long Term Absolute NNN Lease – At closing, the Tenant will execute a 15 Year Absolute NNN lease, with 10% increases every 5 years, (4, 5-year options)
- Established Franchisee – Franchisee has been in the Burger King business since 1959 – one of the longest standing franchises in the brand’s history
- Medical Corridor – The property is located directly across the street from multiple different hospital centers including Fisher-Titus General Surgery
- Local Traffic Drivers – The Fisher-Titus Facility drives significant traffic to our site as well as the Nowalk High School, Huron County Job Services
- Store Front Renovation – Renovation in 2020.
- Strong Sales – The Sale Leaseback Rental figure is based on an 8.5% Rent-to-Sales Ratio for the trailing three years.
FOR SALE DETAILS
PRICE
$2,536,090 USD
PRICE/SF
$655 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
2002
SPRINKLERS
-
PARKING SPACES
44
LAND DETAILS
LAND ACRES
2.02 AC
LAND SF
88,165 SF
ZONING
-
APN/PARCEL ID
33-0370-01-049-0100
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216-503-3610
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216-503-3610
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