Taco Bell,
Akron, OH Investment Summary
| Price | $1,516,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 years, with 15 years remaining |
| Lease Type | Absolute NNN, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot |
| Rental Increases | 1.5% annual rental increases |
| Year Built | 2014 |
| Building Size | 2,015 SF |
| Lot Size | 0.59 acres (25,745 SF) |
| Status | Available |
| Lead Brokers | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
LONG-TERM ABSOLUTE NNN LEASE
» Long-term lease, with 15 years remaining in initial term, plus four five-year options
» No landlord management, providing an ideal investment for an out-of-area investor
» Operated by a leading Yum! Brands franchisee, with Taco Bell, Long John Silver, Kentucky Fried Chicken, and A&W stores in 12 states throughout the South and Northeast regions of the U.S.
» Rare annual rental increases, providing an excellent hedge against inflation
HIGH-TRAFFIC LOCATION IN RETAIL CORRIDOR
» Strategically located on East Market Street, with excellent visibility and access to 16,210 vehicles per day directly in front of the property
» East Market Street provides convenient access to Highway 8 (107,015 AADT) and Interstate 76 (94,616 AADT)
» Located in a strong retail corridor close to several notable tenants
» A short drive from large shopping centers like The Plaza at Chapel Hill, Portage Crossing, and Summit Mall
CENTRAL LOCATION WITH LARGE CUSTOMER BASE
» Just over a mile from downtown Akron
» Within walking distance of the University of Akron, which has a total enrollment of 25,177 students
» Near the 648-bed Summa Health System – Akron Campus
» Located in a densely populated area near major employment centers, with 237,636 residents and 142,213 daytime employees within a five-mile radius
HIGH-QUALITY BUILDING FEATURING DEDICATED DRIVE-THRU
» Dedicated drive-thru, catering to vehicle traffic and providing additional customer convenience
» Easy access from East Market Street and Carroll Street
» Ample onsite and cross-access parking
Property Description
SOLD
The property is strategically located on East Market Street, with excellent visibility and access to 16,210 vehicles per day directly in front of the property. East Market Street provides convenient access to Highway 8 (107,015 AADT) and Interstate 76 (94,616 AADT). Due to its location in a strong retail corridor, the property is close to several notable retailers, including Domino’s Pizza, Family Dollar, CVS, McDonald’s, and Circle K, amongst others. The property is also just a short drive from large shopping centers like The Plaza at Chapel Hill, Portage Crossing, and Summit Mall.
The property is centrally located within the Akron area and benefits from a large customer base. The property is just over a mile from downtown Akron and is within walking distance of both the
648-bed Summa Health System – Akron Campus and the University of Akron, which has a total enrollment of 25,177 students. Furthermore, the property is located in a densely populated area near major employment centers; 237,636 residents live and 142,213 daytime employees work within a five-mile radius of the property.
