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Current Inventory

Redevelopment Opportunity

26368 Lorain Road, North Olmsted, OH
  • Agent(s):
    Kyle Hartung
  • Name:
    Redevelopment Opportunity
  • Address:
    26368 Lorain Road, North Olmsted, OH
  • Total SF:
    1,700
  • Lot Sizes:
    0.48 Acres
  • Option:
    For sale
  • Category:
    Investment Sales

» Full Offering Memorandum

Details

For sale to qualified investors is the opportunity to redevelop Arby’s store #4 in North Olmsted, Ohio. Arby’s has continuously operated a store at this location for 45+ years, and recently has decided to relocate to the adjacent property in order to build their newest prototype. This allows the investor to collect rent from Arby’s for the few 12 months after purchase. Featuring a freestanding 1,700 SF restaurant building with drive thru, this is a rare drive-thru building within this market. With net operating income of $55,000 year one, this asset offers the investor a low price point rarely seen in the NNN fast-food segment with upside to increase rents for the next tenant. Aside from the low price point, longevity of the tenancy, and corporate guaranty, the property is located in one of the most regional trade areas in Ohio. The majority of national retailers and restaurants have a presence in North Olmsted and it is not uncommon for retailers to spend years trying to find a site here. 

Location

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