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Freddy's Frozen Custard - Akron, OH 863 E Arlington Rdg 2,600 SF Retail Building Akron, OH 44312 $2,864,296 CAD ($1,101.65 CAD/SF) 7.25% Cap Rate
INVESTMENT HIGHLIGHTS
- For two consecutive years, Site Selection Magazine ranked Akron #2 among metros with populations of 200,000 to 1 million for new business expansions.
- 7.5% rent increases every five years and at each three, 5-year option.
- Located conveniently off S Arlington Road, which sees over 26,000 VPD.
- Strength in a reliable tenant with a personal guarantee and OH Steakburgers, LLC guarantee.
- Freddy's Frozen Custard & Steakburgers is a leading fast-casual franchise concept with more than 500 locations across 36 states in the U.S.
- National surrounding retailers in the immediate area include Target, Taco Bell, Chipotle, Five Guys, Wendy's, Burger King, Bob Evans, and more.
EXECUTIVE SUMMARY
We are pleased to exclusively offer for sale the 2,600 SF Freddy’s Frozen Custard located at 863 Arlington Ridge E in Akron, OH. This deal includes 7.5% rent increases every five years and at each five-year option, providing long-term income growth and stability.
In Cooperation With ParaSell, Inc., A Licensed Ohio Broker - Lic. #REC.2020005946 BoR: Scott Reid - Lic. OH #BRKP.2020001224
In Cooperation With ParaSell, Inc., A Licensed Ohio Broker - Lic. #REC.2020005946 BoR: Scott Reid - Lic. OH #BRKP.2020001224
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
2,600 SF
Building Class
B
Year Built
2019
Price
$2,864,296 CAD
Price Per SF
$1,101.65 CAD
Cap Rate
7.25%
NOI
$207,662 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.00 AC
Frontage
229’ on Arlington Ridge East
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Freddy's Frozen Custard
- Accommodation and Food Services
- 2,600 SF
- $79.87 CAD
- Triple Net
- Nov 2040
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Freddy's Frozen Custard | Accommodation and Food Services | 2,600 SF | $79.87 CAD | Triple Net | Nov 2040 |
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 28-15911 | Improvements Assessment | $1,854 CAD |
| Land Assessment | $41,247 CAD | Total Assessment | $43,100 CAD |
PROPERTY TAXES
Parcel Number
28-15911
Land Assessment
$41,247 CAD
Improvements Assessment
$1,854 CAD
Total Assessment
$43,100 CAD
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Freddy's Frozen Custard - Akron, OH | 863 E Arlington Rdg
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