426 State St Fremont, OH 43420-4257
- Retail space
- 492 SF
- 0.50 lot acres
Apr 11, 2025
Current Use by Public Records
- BIGGBY COFFEE / Coffee Shop
Property Details for 426 State St
- Year built
- 1984
- Lot size
- 0.50 lot acres
- Property size
- 492 SF
- Property type
- Retail space
- APN
- 34-50-00-0481-00
- APU
- 345000048100
Description
This exceptional investment opportunity presents a fee-simple ownership of a brand-new (2022), 356 square foot Biggby Coffee located at 426 E State St, Fremont, OH 43420. The property sits on a 0.5-acre lot and boasts a drive-thru-only design, strategically positioned on a major commercial corridor with high daily vehicle traffic (12,000 VPD). This single-tenant, absolute NNN ground lease offers a strong 6.00% cap rate with a substantial NOI of $17,992. The lease features a 13-year remaining term with built-in 10% rent bumps every five years and three additional five-year renewal options, minimizing landlord responsibilities. The property benefits from its proximity to significant industrial employers, including Crown Battery and Kraft Heinz, creating a built-in customer base. The asking price is $299,867, translating to $842.32 per square foot. This is a rare opportunity to acquire a high-performing, low-maintenance investment in a prime location with a proven, fast-growing brand. The property's location on the eastern side of the river makes it the only drive-thru coffee shop in the area, ensuring immediate market share. The low ground rent contributes to a cheap basis in the real estate, further enhancing the investment's appeal. This is a bite-sized deal with significant upside potential.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $320,000
- ML approach
- $255,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Fremont
- County
- Sandusky
- State
- Ohio
- Longitude
- -83.1058
- Latitude
- 41.3458
- CBSA code
- 23380
- CBSA name
- FREMONT, OH MICROPOLITAN STATISTICAL AREA
