1951 Cooper Foster Park RdLorain, OH 44001

For Sale
$1,999,000

High-performing Arby's, 15-year lease.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a stabilized, single-tenant Arby's restaurant located at 1951 Cooper Foster Park Rd, Amherst, OH 44001. The property boasts 2,521 square feet on a 1.1-acre lot and features a newly renovated interior (2024) and updated façade (2010), reflecting the tenant's significant commitment to the location. The current lease, a NNN (Net, Net, Net) agreement, has a remaining term of 15 years, expiring October 31, 2039, with built-in rent bumps. The property's strong performance is evidenced by a 5.50% cap rate and a substantial NOI of $110,000. The asking price is $1,999,000, translating to $792.94 per square foot. This location is strategically positioned just off Cooper Foster Park Road, a high-traffic area with over 15,371 vehicles per day, ensuring excellent visibility and accessibility. The surrounding area demonstrates strong demographics, with a population of 102,337 residents within a 5-mile radius and an average household income of $64,945. The property is part of a shopping center anchored by Tractor Supply, and nearby retailers include Michaels, Jimmy John's, Chipotle, Dunkin', and more. The tenant is planning further expansion, including a potential double drive-through, highlighting their confidence in the site's success. This is a rare opportunity to acquire a top-performing Arby's in a prime location with a long-term lease and significant upside potential. The property is a single-story building constructed in 1993.

Highlights

  • Brand new 15-year lease with a tenant demonstrating strong commitment to the location.
  • Outparcel in a Tractor Supply-anchored shopping center.
  • Tenant's planned expansion to a double drive-thru on adjacent land underscores location success.
  • Tenant-updated façade (2010) reflects ongoing investment in the property.
  • High-traffic location: Cooper Foster Road sees 15,371 vehicles per day (VPD).
  • Strong demographics: 102,337 residents within a 5-mile radius, with an average household income of $64,945.

Property Details for 1951 Cooper Foster Park Rd

Property type
Other retail properties, Restaurants
Square Feet
2,521 SF
Year Built/Renovated
1993/2024
Buildings
1
Stories
1
Lot Size (sq. ft)
47,916 SF

Location Insight

City
Lorain
County
Lorain
State
Ohio
Latitude
41.4179353
Longitude
-82.200548
1951 Cooper Foster Park Rd, Lorain, Ohio

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1951 Cooper Foster Park Rd
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