Current Use by Public Records
- Retail properties & Spaces
Property Details for 7542 Broadview Rd
- Year built
- 2023
- Lot size
- 0.82 lot acres
- Property type
- Retail properties & Spaces
Description
This exceptional investment opportunity presents a 2,332 square foot Arby's restaurant situated on a 0.82-acre lot in Parma, Ohio. The property boasts a new 2023 construction and is operating under a strong absolute triple-net (NNN) ground lease with approximately 19 years remaining until the initial lease expiration in August 2043. The lease includes favorable terms, featuring 10% rent increases every five years and five, five-year renewal options. The current annual net operating income (NOI) stands at $105,000, resulting in an attractive 5.35% cap rate. This Arby's enjoys a prime location as an outparcel to a shopping center anchored by TJ Maxx and Acme Market, ensuring high visibility and traffic. The site benefits from its position at a corner intersection with over 32,000 cars passing daily. Furthermore, the strong demographics of the area, with over 170,348 residents and 72,000 households within a five-mile radius, contribute to the property's robust performance. The ground lease structure offers potential tax benefits related to depreciable sitework; however, it is recommended to consult with a tax advisor for detailed guidance. The asking price for this exceptional investment is $1,963,000. This is a rare opportunity to acquire a well-positioned, high-performing Arby's ground lease with significant long-term growth potential.
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
- Parma
- County
- Cuyahoga
- State
- Ohio
- Longitude
- -81.6852
- Latitude
- 41.3605
