Taco Bell
| Price | $1,561,000 |
| Cap Rate | |
| NOI | |
| Lease Term | 20 years, with 15 years remaining |
| Lease Type | Absolute NNN, with tenant responsible for all taxes, insurance, and maintenance, including roof, structure, and parking lot |
| Rental Increases | 1.5% annual rental increases |
| Year Built | 2014 |
| Building Size | 2,536 SF |
| Lot Size | 1.01 acres (44,030 SF) |
| Status | Sold |
| Lead Broker Information | Vincent Aicale Cushman & Wakefield 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Cushman & Wakefield 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Cushman & Wakefield 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Senior Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
LONG-TERM ABSOLUTE NNN LEASE
» Long-term lease, with 15 years remaining in initial term, plus one five-year option and one 54-month option
» No landlord management, providing an ideal investment for an out-of-area investor
» Operated by a leading Yum! Brands franchisee, with Taco Bell, Long John Silver, Kentucky Fried Chicken, and A&W stores in 12 states throughout the South and Northeast regions of the U.S.
» Rare annual rental increases, providing an excellent hedge against inflation
HIGH-TRAFFIC LOCATION WITH IMMEDIATE FREEWAY ACCESS
» Strategically located on at the intersection of Campbell Boulevard and Leesburg Grove City Road, with excellent visibility and access to 12,018 vehicles per day directly in front of the property
» Leesburg Grove City Road provides immediate access to Interstate 79 (23,724 AADT)
STRONG RETAIL MARKET CATERING TO LOCALS AND TOURISTS
» Within walking distance of Grove City Premium Outlets, one of the country’s top 20 outlet centers
» Grove City Premium Outlets is the region’s premiere shopping destination, with over 130 brand-name stores, including one of the Pittsburgh Steelers’ official team stores
» The outlet mall draws more than 6 million shoppers every year; many visitors are from out-of-state or from Canada and come to Grove City Premium Outlets to take advantage of Pennsylvania’s lack of sales tax on clothing
» Taking advantage of out-of-area travelers, the property is directly adjacent to a 90-room Hampton Inn & Suites and near Holiday Inn Express (60 rooms), Candlewood Suites (75 rooms), TownePlace Suites by Marriott (96 rooms), and several other hotels
» Near large schools and employers, including Grove City College, one of the nation’s finest small liberal arts schools, with 2,461 students and 167 employees
Property Description
Sold
The property is strategically located on at the intersection of Campbell Boulevard and Leesburg Grove City Road, with excellent visibility and access to 12,018 vehicles per day directly in front of the property. Leesburg Grove City Road provides immediate access to Interstate 79 (23,724 AADT). The property is located in a strong
retail area and is within walking distance of Grove City Premium Outlets, one of the country’s top 20 outlet centers. Grove City Premium Outlets is the region’s premiere shopping destination, with over 130 brandname stores, including Coach, J. Crew, The North Face, Under Armour, Michael Kors, Nike, Tommy Hilfiger, Vera Bradley, White House Black Market, and one of the Pittsburgh Steelers’ official team stores. The outlet mall draws more than 6 million shoppers every year; many visitors are from out-of-state or from Canada and come to Grove City Premium Outlets to take advantage of Pennsylvania’s lack of sales tax on clothing. Because of this, a number of hotels are located in the area, and the property is directly adjacent to a 90-room Hampton Inn & Suites and near Holiday Inn Express (60 rooms), Candlewood Suites (75 rooms), TownePlace Suites by Marriott (96 rooms), and several other hotels. In addition to Grove City Premium Outlets, other sites that drive traffic in the area include recreational attractions, like Grove City Country Club’s 18-hole golf course, and large schools and employers like Grove City College, rated as one of the nation’s finest small liberal arts schools, with 2,461 students and 167 employees.
