6851 Miller Lane, Dayton, OH, 45414, US

Hooters - Dayton, OH

Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in the single-tenant Hooters located at 6851 Miller Lane in Dayton, Ohio (“Property” or “Asset”). Hooters is operating on a corporate absolute NNN lease with ±16.0 years of primary lease term remaining, 5.0% rent escalations every 5 years and four, five-year renewal options. Hooters has operated successfully at this site for over 20 years with a strong 7.20% rent-to-sales ratio.

OH Broker of Record: Jon Vanderplough, License #: SAL.2005015674

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Attributes

Asking price

¥374,929,000

Cap rate

NOI

¥26,250,000

WAULT

16 years

Building area net

463 sm

Land area gross

0.49 ha

Media

Investment highlights

Long-term absolute NNN lease with ±16.0-years of term remaining
Outparcel to highly trafficked Walmart Supercenter & Sam's Club (4M visits combined)
Healthy location with strong rent-to-sales figure of 7.20%
College town location nearby the University of Dayton with 10,500 students
Along I-75 with direct accessibility to 123,000 VPD
Strong demographics with 18% population growth within a 1-mile radius since 2010