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Torchy's Tacos
Asset ClassRetail
Absolute NNN Corporate Lease │ Outparcel to +500K SF Mixed-Use Center
overview of deal

Overview

  • Asking Price: $3,480,000
  • Cap Rate: 5.75%
  • Annual Rent: $200,000
  • Acreage: 1.357 AC
  • Lease Type: Absolute NNN
  • Year Built: 2023
  • Remaining Lease Term: 13 Years
  • Options: Three (3) 5-year options
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Investment Highlights

ABSOLUTE NNN CORPORATE LEASE This absolute NNN corporate lease has 13 years remaining on the initial term and three (3) five-year options to renew.

 

ZERO LANDLORD RESPONSIBILITIES Torchy’s Tacos offers a compelling investment opportunity for passive investors, as the absolute NNN lease completely eliminates all landlord management responsibilities.

 

10% RENT BUMPS EVERY 5 YEARS This lease features 10% rent bumps every 5 years and in each renewal option, enhancing investor yield and providing a strong hedge against inflation.

 

PRIME OUTPARCEL TO +500,000 SF MIXED-USE DEVELOPMENT Torchy’s is an outparcel to Hamilton Quarter, a new mixed-use development that is ranked in the top 3% of shopping centers in Ohio and the top 7% in the United States. Featuring 250,000 SF of retail and the +250,000 SF Ohio State University Wexner Medical Center, Hamilton Quarter enjoys 5 million visits annually. Since opening, Hamilton Quarter’s historical vacancy has averaged below 3%, reflecting resilient tenant demand and reducing downtime risk upon lease rollover.

 

2 MINUTES FROM ONE OF THE LARGEST AND FASTEST GROWING BUSINESS PARKS IN U.S. The New Albany International Business Park is one of the largest strategically-planned business parks in the country and one of the fastest growing in the Midwest, providing jobs to more than 26,000 employees. Google, Abercrombie & Fitch, Amazon Web Services, Microsoft and Facebook are just a few of the companies located within the business park.

 

AFFLUENT TRADE AREA New Albany, Ohio is supported by strong and affluent area demographics, underscoring its appeal as a desirable residential and commercial market. Within a 3-mile radius, the average household income exceeds $154,780, reflecting the area’s high earning potential and consumer spending power.

 

EXCELLENT ACCESS & VISIBILITY Located at the Hamilton Road and SR-161 interchange, Torchy’s Tacos benefits from superior access and excellent visibility on this highly trafficked corner.

 

TRAFFIC COUNTS (ADT) Hamilton Road - 23,007

Dublin-Granville Road - 13,289

SR-161 - 107,075

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6042 N Hamilton RdWesterville, OH 43081
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Listing provided by Revere CRE