JUST SOLD | NNN Five Guys, Sold for 98.5% of List Price - $1,325,000 | Absolute NNN | 6.4% Cap Rate
Kyle Hartung of Goodman Real Estate Services Group LLC recently brokered the $1,325,000 sale of the freestanding Five Guys restaurant located in Kent, Ohio. Hartung exclusively represented the seller of the property and achieved a sales price equal to 98.5% of the list price. The buyer was a private 1031 exchange investor from California.
The property is an absolute triple-net leased Five Guys restaurant located directly across the street from Kent State University in Kent, Ohio. This lease is 100% free of landlord obligations and, with the strong guaranty and length of lease, made a perfect 1031 candidate. Additionally, there are over 26,000 students and faculty at Kent State within walking distance to the property, making this a long-term A+ piece of real estate.
Goodman Real Estate Services Group is a commercial real estate brokerage company specializing in marketing or acquiring real estate for its clients. Kyle Hartung is the Director of Investment Sales and can be reached at 216-381-8200, Ext. 205 and looks forward to discussing any investment sales needs, whether you are interested in selling, acquiring, or evaluating the current position of your property.