NNN Restaurant - Wasabi Steak & Sushi
For sale to qualified investors is the 100% fee-simple interest in the triple-net Wasabi Steak & Sushi restaurant located in Copley (Akron MSA), Ohio. This asset is being offered at an attractive 8.25% cap rate with a corresponding price of $2,618,182. Wasabi Steak & Sushi has 4 locations in Northeast Ohio and has been a tenant at this location since 2015. Operating under a initial 10-year lease, Wasabi has roughly 7 years remaining with one additional option for 10-years (featuring two rental increases in the option). Surrounded by strong demographics and located in a premier retail corridor, the location is encompassed by national, regional and local retailers. Additionally, the property is located west of Interstate 77 (86,398 VPD) on Montrose West Ave, this area is home to a multitude of restaurants and retail including Home Depot, Outback Steakhouse, LongHorn Steakhouse, TGI Fridays, Radisson Hotel, Marriott Hotel, Cleveland Clinic Akron Hospital, Bob Evans, Cracker Barrel, Best Buy, Romano’s Macaroni Grill, Chick-fil-A, Chipotle, Olive Garden, Staples, TJ Maxx, McDonald’s, PetSmart, Aldi, Walmart, Hobby Lobby, Michaels, Giant Eagle, Applebee’s, Verizon, Sam’s Club, OfficeMax, FedEx, GameStop and many more.