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283 B Benedict Ave
Norwalk, OH 44857

$2,536,090 USD

Fast Food For Sale  •  3,873 SF

Property Details

  • Property Type Fast Food
  • Total Building Size 3,205 SF
  • Lot Size 2.02 AC
  • Building Class C
  • Year Built 2002
  • Cap Rate 5.95 %
  • Tenancy Single
0 Transit Score
28 Walk Score

Highlights

Long Term Absolute NNN Lease – At closing, the Tenant will execute a 15 Year Absolute NNN lease, with 10% increases every 5 years, (4, 5-year options)
Established Franchisee – Franchisee has been in the Burger King business since 1959 – one of the longest standing franchises in the brand’s history
Medical Corridor – The property is located directly across the street from multiple different hospital centers including Fisher-Titus General Surgery
Local Traffic Drivers – The Fisher-Titus Facility drives significant traffic to our site as well as the Nowalk High School, Huron County Job Services
Store Front Renovation – Renovation in 2020.
Strong Sales – The Sale Leaseback Rental figure is based on an 8.5% Rent-to-Sales Ratio for the trailing three years.
Cap Rate: 5.95 %

Major Tenants

Tenant SF Occupied Lease End Date
Burger King

Amenities

  • Pylon Sign
  • Signalized Intersection
  • Drive Thru

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 44
Type: Surface
Included in Rent: Yes
Jonah Yulish 216-503-3610 Matthews Real Estate Investment Services
Jonah Yulish 216-503-3610 Matthews Real Estate Investment Services