2001 E Main St - Restaurant FOR SALE


Springfield, OH 45503
$1,385,000 USD
480-221-4221
2001 E Main St, Springfield, OH for Sale
$1,385,000 USD
Restaurant - FOR SALE
1/5
null | 6.5% Cap Rate

2001 E Main St
Springfield, OH 45503


HIGHLIGHTS

  • Brand New 15-Year Lease | Scheduled Rental Increases | Options To Extend | July 2024 Anticipated Opening
  • Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities | Strong Franchisee
  • Signalized, Hard-Corner Intersection (30,500 VPD) | Excellent Visibility | Strong National/Credit Presence
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, 7 Brew Coffee investment property located in Springfield, Ohio. The tenant recently signed a brand new 15 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The franchisee is Brew Team OH. The 7 Brew is located at the signalized, hard-corner intersection of E Main St and N Belmont Ave, combining to average 30,500 vehicles passing by daily. E Main St is a major retail thoroughfare serving the city of Springfield. The asset is adjacent to a 35,000+ square foot Save-A-Lot grocery anchored center with additional tenants including Family Dollar, Wingstop, H&R Block, and more. In addition, 7 Brew is located in close proximity to Eastside Square, a Walmart Supercenter anchored shopping center with Sonic, Bob Evans, and Fifth Third Bank outparcels. The property is in the center of a primary retail corridor with other nearby national/credit tenants including a Kroger, McDonald’s, Wendy’s, KFC, Walgreens, Dollar Tree, and more, further increasing consumer traffic to the site. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The 5-mile trade area is supported by a population of over 79,400 with an average household income of $70,249.

FOR SALE DETAILS

PRICE

$1,385,000 USD

PRICE/SF

$2,716 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

7 Brew | New 15yr Abs NNN w/ Increases

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2024

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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