340 Milan Ave - Fast Food FOR SALE
Norwalk, OH 44857 |
$2,842,137 USD
216-503-3610
340 Milan Ave
Norwalk, OH 44857
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
- Storefront Renovation – The property underwent a full renovation in August 2015, featuring updated finishes and modernized branding
- Prime Retail Corridor Location – Strategically positioned within Norwalk’s primary commercial corridor
- Established Daytime Population – The Property is supported by a robust daytime population generated by the adjacent industrial park.
- Strong Sales – The sale-leaseback rental rate is supported by an 8.5% rent-to-sales ratio over the trailing three years.
FOR SALE DETAILS
PRICE
$2,842,137 USD
PRICE/SF
$596 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
1979
SPRINKLERS
-
PARKING SPACES
45
LAND DETAILS
LAND ACRES
0.9 AC
LAND SF
39,204 SF
ZONING
-
APN/PARCEL ID
52-012B-01-025-0500
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216-503-3610
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216-503-3610
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