705 N Meridian St, Portland, IN, 47371
Arby’s
Key Information
Highlights
• Absolute NNN Lease with Corporate Guarantee: Backed by Arby’s Restaurant Group, Inc., the lease offers passive ownership with no landlord responsibilities and the security of a corporate guarantee.
• Long-Term Lease Term with ±10 Years Remaining: Lease extends through December 31, 2036, providing stable, predictable cash flow for over a decade.
• Rare 1.5% Annual Rent Escalations: Annual rental increases enhance yield and provide a hedge against inflation — a notable feature rarely seen in QSR absolute NNN leases.
• Strong Unit-Level Performance: The store reports approximately $1.8 million in annual sales and provides sales reporting, distinguishing it as a top-performing Arby’s location.
• Attractive Pricing and Cap Rate: Offered at $1,662,971 with a 5.75% capitalization rate, supported by strong tenant performance and corporate credit.
• Established Operating History: Arby’s has occupied the site since 1997, demonstrating long-term operational success; the property underwent a full redevelopment in 2018.
• Modern 2018 Construction to Current Prototype: Redeveloped in 2018 to align with Arby’s “Inspire” design, ensuring conformity with current brand standards and operational efficiency.
• Generous ±2.27 AC Parcel in Prime Retail Corridor: Strategically positioned along North Meridian Street with ±10,400 vehicles per day (VPD), offering high visibility and strong consumer traffic.
• Fee Simple Ownership: The asset is offered as fee simple, providing complete ownership of both land and improvements with no ground lease encumbrance.
• Extensive Option Periods with Built-In Rent Growth: Ten (10) five-year renewal options, each with 1.5% annual rent increases, support long-term income growth and future upside potential.
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