863 Arlington E Rdg Akron, OH 44312-5276

Property Details for 863 Arlington E Rdg

Year built

2013

Lot size

1.00 lot acres

Property size

2,701 SF

Property type

Drive through restaurants

APN

28-15911

APU

2815911

Description

This exceptional investment opportunity presents a 2,600 square foot Freddy's Frozen Custard restaurant located at 863 Arlington Ridge East in Akron, Ohio. The property boasts a strong 7.26% cap rate and a substantial net operating income (NOI) of $181,921. Secured by a 15-year net lease (NNN) with a franchisee tenant, the lease commenced July 30, 2019, and expires July 31, 2034, leaving approximately 9.7 years remaining. The lease includes attractive 7.5% rent bumps every five years, and three five-year renewal options, ensuring long-term income stability. Built in 2019, this single-tenant property sits on a one-acre lot and benefits from a high-traffic location, with over 26,000 vehicles passing daily on nearby S Arlington Road. The property's strategic location is further enhanced by its proximity to numerous national retailers, including Target, Taco Bell, Chipotle, and several fast-food chains, as well as major hotel brands like Residence Inn, Hampton Inn, and Holiday Inn Express. The asking price is $2,507,096, translating to a price per square foot of $964.27. This investment is backed by a personal guarantee and an OH Steakburgers, LLC guarantee, adding an extra layer of security. Akron's robust economy, ranked #2 among metros (200,000-1 million population) for new business expansions and relocations for two consecutive years by Site Selection Magazine, further strengthens this compelling investment proposition. This is a rare opportunity to acquire a high-performing, well-located, and secure net-leased property with a proven track record.

Location Insight

City

Akron

County

Summit

State

Ohio

Longitude

-81.4915

Latitude

40.984

CBSA code

10420

CBSA name

AKRON, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments