1951 Cooper Foster Park Rd, Lorain, OH 44001
- Retail properties & Spaces
- 2,521 SF
- 1.10 lot acres
Current Use by Public Records
- Retail properties & Spaces
Property Details for 1951 Cooper Foster Park Rd
- Year built
- 1993
- Lot size
- 1.10 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a stabilized, single-tenant Arby's restaurant located at 1951 Cooper Foster Park Rd, Amherst, OH 44001. The property boasts 2,521 square feet on a 1.1-acre lot and features a newly renovated interior (2024) and updated façade (2010), reflecting the tenant's significant commitment to the location. The current lease, a NNN (Net, Net, Net) agreement, has a remaining term of 15 years, expiring October 31, 2039, with built-in rent bumps. The property's strong performance is evidenced by a 5.50% cap rate and a substantial NOI of $110,000. The asking price is $1,999,000, translating to $792.94 per square foot. This location is strategically positioned just off Cooper Foster Park Road, a high-traffic area with over 15,371 vehicles per day, ensuring excellent visibility and accessibility. The surrounding area demonstrates strong demographics, with a population of 102,337 residents within a 5-mile radius and an average household income of $64,945. The property is part of a shopping center anchored by Tractor Supply, and nearby retailers include Michaels, Jimmy John's, Chipotle, Dunkin', and more. The tenant is planning further expansion, including a potential double drive-through, highlighting their confidence in the site's success. This is a rare opportunity to acquire a top-performing Arby's in a prime location with a long-term lease and significant upside potential. The property is a single-story building constructed in 1993.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lorain
- County
- Lorain
- State
- Ohio
- Longitude
- -82.2005
- Latitude
- 41.4179
