Chipotle - Brooklyn, OH
7320 Northcliff Ave, Brooklyn, OH, 44144, US
A$4,120,000 | 221 m²
Description
Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to offer the opportunity to acquire the single-tenant Krispy Kreme in Middleburg Heights, Ohio ("Property" or "Asset"). The Property is operating on an absolute NNN ground lease with ±15.3 years of primary lease term remaining, 2.00% annual rent escalations, and six, five-year renewal options.
OH Broker of Record: Jon Vanderplough – OH License #: SAL.2005015674
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Attributes
Asking price
A$3,129,000
Cap rate
7%
NOI
A$219,000
WAULT
15.3 years
Land area gross
0.25 ha
Building area net
259 m²
Media
Investment Highlights
- Absolute NNN ground lease with ±15.3 years of term remaining
- Corporate guaranty from Krispy Kreme, Inc. and 2.00% annual bumps
- Outparcel to southland Shopping Center with 4.7M visits annually and a top 6% shopping center in the U.S.
- 2 miles to Cuyahoga Community College’s Western Campus, the largest community college in Ohio
- Hard corner, signalized intersection with 50K VPD
- Southland Business District undergoing $45M mixed-use redevelopment
Contact brokers
Krispy Kreme – Middleburg Heights, OH (0 Properties)
