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3851 32nd Ave WestGrand Forks, ND 58201
Arby's
Asset ClassRetail
Deal Size$2.65 M
Cap Rate: 5.5%Square Feet: 3,210Access Data Room
Brand New 20-Year Absolute NNN Sale Leaseback | Primary Retail Corridor
overview of deal

Overview

Price: $2,645,000 | CAP: 5.50%

  • Building SF: 3,210
  • Land AC: 0.99
  • Year Built/Renovated: 2004
  • Lease Term: 20 Years
  • Lease Type: Absolute Triple Net (NNN)
  • Lease Guarantor: AES Midwest LLC (59 Units)
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Investment Highlights

BRAND NEW 20-YEAR ABSOLUTE TRIPLE-NET SALE LEASEBACK

  • Zero Landlord Responsibilities
  • 10% Rental Increases Every 5 Years
  • Four Five-Year Renewal Options

HEALTHY RENT-TO-SALES RATIO OF 7.50%

  • During 2023, the subject property achieved Gross Sales of $1,939,802

OPERATED BY THE 3RD LARGEST AND EXPANDING ARBY’S FRANCHISEE

  • AES Restaurants (Attitude Equals Success)
  • Franchisee John Wade has been in the Arby’s system since 1993 and is the current chairman of the Arby’s Franchise Association (AFA)

SIGNALIZED CORNER PAD SITE TO NORTH DAKOTA'S MOST VISITED COMMUNITY CENTER

  • Grand Forks Marketplace, dual anchored by Target & Lowe's, ranks first of 28 community centers in the state (100th percentile)
  • Additional national retailers include Best Buy, Sierra, Starbucks, Culver's, Famous Footwear, and many more national brands

HIGHWAY EXIT LOCATION (I-29) TO GRAND FORK'S COMMERCIAL HUB

  • Within a one-mile radius of the subject property, there is 2.5M SF of retail or 44% of the entire retail product in Grand Forks, ND (5.7M SF)
  • Scheel's anchors the nearby Columbia Mall, while additional national retailers include Walmart, Sam's Club, Target, Lowe's, Kohl's, Menards and more
  • 798 Hotel Rooms in a one-mile radius
  • First accessible quick service restaurant from highway exit

 

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3851 32nd Ave WestGrand Forks, ND 58201

Sales Team

Drew IsaacSenior Managing Director Investments(303) 328-2048drew.isaac@marcusmillichap.com
Jon RuzickaND Broker of Record

License #: License # 10032

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Listing provided by Revere CRE