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340 Milan Ave
Norwalk, OH 44857

$2,842,137 USD

Fast Food For Sale  •  4,771 SF

Property Details

  • Property Type Fast Food
  • Total Building Size 3,031 SF
  • Lot Size 0.9 AC
  • Building Class B
  • Year Built 1979
  • Cap Rate 5.95 %
  • Tenancy Single
0 Transit Score
37 Walk Score

Highlights

Long Term Absolute NNN Lease – At closing, the tenant will execute a new 15-year absolute NNN lease featuring 10% rent increases every five years
Established Franchisee – The franchisee has been operating Burger King restaurants since 1959
Storefront Renovation – The property underwent a full renovation in August 2015, featuring updated finishes and modernized branding
Prime Retail Corridor Location – Strategically positioned within Norwalk’s primary commercial corridor
Established Daytime Population – The Property is supported by a robust daytime population generated by the adjacent industrial park.
Strong Sales – The sale-leaseback rental rate is supported by an 8.5% rent-to-sales ratio over 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: 45
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