620 N Howard St - Fast Food FOR SALE


Akron, OH 44310- North Hill
$1,500,000 USD
408-510-9057
620 N Howard St, Akron, OH for Sale
$1,500,000 USD
Fast Food - FOR SALE
1/3
null | 6% Cap Rate

620 N Howard St
Akron, OH 44310
North Hill


HIGHLIGHTS

  • New 20-Year Sale-Leaseback NNN Lease Commencing at Close of Escrow | Zero Landlord Responsibilities
  • Scheduled 10% Rent Increases Every 5 Years | Four (4) Five-Year Renewal Options
  • Operated and Guaranteed by an Established 13-Unit Popeyes Franchisee
  • Tenant-Funded Remodel Slated for 2028 at No Cost to Landlord
  • Signalized Intersection of North Howard Street (±7,000 VPD) and Tallmadge Avenue (±10,736 VPD)
  • Convenient Access to State Route 8 (±100,071 VPD), Interstate 77, and Interstate 76

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Popeyes drive-thru located at 620 North Howard Street in Akron, Ohio. The ±2,520-square-foot restaurant is secured by a new 20-year sale-leaseback NNN lease commencing at close of escrow, with zero landlord responsibilities and four (4) five-year renewal options. The property generates $90,000 in annual base rent at a 6.00% cap rate, with scheduled 10% rent increases every five years providing consistent income growth. The lease is operated and guaranteed by an established 13-unit Popeyes franchisee, and the tenant is slated to remodel the location at their own expense in 2028. The property sits along North Howard Street (±7,000 VPD) at its signalized intersection with Tallmadge Avenue (±10,736 VPD), with access to State Route 8 (±100,071 VPD), Interstate 77, and Interstate 76. Nearby retailers include Home Depot, Best Buy, Sam's Club, and Lowe's at The Plaza at Chapel Hill Shopping Center. The 3-mile trade area holds 104,813 residents with an average household income of $69,312, supported by The University of Akron (15,000+ enrollment), Cleveland Clinic Akron General (500+ beds), and Summa Health (600+ beds). The asset sits within the Akron MSA (706,559 residents), pairing brand strength from Popeyes' 3,700+ global locations under Restaurant Brands International (S&P: BB) with passive, long-term net-lease income.

FOR SALE DETAILS

PRICE

$1,500,000 USD

PRICE/SF

$595 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Popeyes | New 20-Yr NNN Sale-Leaseback

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,087 SF

ZONING

-

APN/PARCEL ID

68-34230

ASK ABOUT THIS PROPERTY

Tyler BindiMarcus & MillichapMore Info
408-510-9057

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Tyler BindiMarcus & MillichapMore Info
408-510-9057

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