Investment Offering
Springfield, OH - Arby's
203 E. Leffel Lane | Springfield, OH 45505
$1,789,000
Price5%
Cap Rate$89,460
NOI3,366
± SF Offering GLADescription
SRS National Net Lease Group in collaboration with Hoty Enterprises, Inc is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in an absolute NNN, drive-thru equipped, Arby’s investment property located in Springfield, Ohio. The tenant currently has approximately 14 years remaining in their current lease term, with 2 (5-year) options to extend. The lease features approximate 6.5% rental increases every 5 years during the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. The building was renovated in 2015 and features modern amenities and design. Arby’s is a top foodservice retailer with over 3,500 locations around the globe.
Location
Arby’s is strategically located near the signalized, hard corner intersection of State Highway 72 and E. Leffel Lane, averaging a combined 33,500 vehicles passing by daily. Furthermore, the site benefits from nearby direct on/off ramp access to Interstate 70, a major thoroughfare averaging over 62,000 vehicles per day. The building is complete with a drive-thru, providing ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. Additionally, the asset is across from Leffel Lane shopping center, a shopping center anchored by Big Lots and Dollar Tree. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover retail exposure for Arby’s. Moreover, the site is within walking distance to multiple hotel complexes including Quality Inn & Conference Center Springfield (150 units), Hampton Inn Springfield (100 units), Motel 6 Springfield (88 units) and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by more than 68,690 residents and 37,570 employees with an average household income of $63,572, providing a direct consumer base from which to draw.
Documents & Links
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 Offering Memorandum |  |  |
Contact
Matthew Mousavi
Sr Managing Principal & Co-Head of National Net Lease
949.698.1116949.698.1116[email protected]CA #: 01732226
Patrick Luther, CCIM
Sr Managing Principal & Co-Head of National Net Lease
949.698.1115949.698.1115[email protected]CA #: 01912215