INVESTMENT OVERVIEW:
Sale Price: $2,073,000
CAP Rate: 6.75%
Net Operating Income: $139,968
Building Size: 2,788 SF
Market: Elkhart
Lease Type: NNN
Type of Ownership: Fee Simple
INVESTMENT HIGHLIGHTS:
- 100% Fee Simple Interest
- Absolute NNN Lease
- Located on a Major Commercial Thoroughfare
- Scheduled Increases
- Strong and Experienced Operator
- Zero Landlord Obligations
PROPERTY INFORMATION:
The subject property is a freestanding Arby’ s located in Goshen, Indiana. Arby’ s has 11-plus years left on the initial lease with two five-year options. The lease calls for eight percent rent escalations every five years in the original term and option periods. The subject property is operated by an experienced franchisee with 25-plus years of experience with Arby’ s, and experience with numerous other restaurant concepts. The franchisee currently operates 11 Arby’ s and seven Buffalo Wild Wings and has operated as many as 42 Arby’ s in three states in the past. The asset is located across the street from Menards one half mile northwest of a Wal-Mart Supercenter. Other retailers in the immediate area include McDonald’ s, Burger King, Dollar General, Sears and Wings Etc. to name a few.
LOCATION INFORMATION:
Goshen is a city in and the county seat of Elkhart County, Indiana. Goshen is located 10 miles southeast of Elkhart, 25 miles southeast of South Bend, 120 miles east of Chicago, and 150 miles north of Indianapolis. The population was 31,719 at the 2010 census. The city is known as a center of manufacturing for recreational vehicles and accessories, the home of Goshen College, a small Mennonite liberal arts college, and home to the Elkhart County 4-H Fair, one of the largest county fairs in the United States.
