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Cafe Zupas
Asset ClassRetail
NNN Corporate Ground Lease│Outparcel to +500K SF Mixed-Use Development
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Overview

  • Asking Price: $3,078,000
  • Cap Rate: 5.85%
  • Annual Rent: $180,000
  • Acreage: 1.142 AC
  • Lease Type: NNN Ground
  • Year Built: 2023
  • Remaining Lease Term: 13 years
  • Options: Three (3) 5-year options
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Investment Highlights

NNN CORPORATE GROUND LEASE

This NNN corporate ground lease has over 13 years remaining on the initial term, and three (3) five-year options to renew.

 

ZERO LANDLORD OBLIGATIONS Café Zupas offers a compelling investment opportunity for passive investors, as the 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 5M 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.

 

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.

 

RECENT $55M INVESTMENT FOR EXPANSION INITIATIVES

Gladstone Capital (NASDAQ: GLAD), one of the first Business Development Company funds, recently invested $55M to assist Café Zupas in their national expansion efforts. Being backed by institutional capital positions Café Zupas for accelerated growth and increased market share across key U.S. regions.

 

TRAFFIC COUNTS (ADT) Hamilton Road - 23,007

Dublin-Granville Road - 13,289

SR-161 - 107,075

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5980 Hamilton RdWesterville, OH 43081
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Listing provided by Revere CRE