Net Lease Long John Silvers Property For Sale Date March 1, 2017
The Boulder Group is pleased to exclusively market for sale a single tenant property located in Dayton, Ohio. The property is a net lease investment occupied by a net lease Long John Silvers and A&W Restaurant under a single lease. The property is strategically located along a primary thoroughfare right off of Interstate-75 with direct on and off access.
The 2,246 square foot net lease Long John Silvers building features a drive-thru and is strategically located along Needmore Road, the primary east-west thoroughfare in the trade area. Road experiences traffic counts of 31,400 vehicles per day. Needmore Road connects the property to Interstate-75 with an interchange access on and off of the thoroughfare which carries 87,270 vehicles per day. The property is positioned near a number of national retailers such as Kroger, O’Reilly Auto Parts and Advance Auto Parts.
The property has approximately 11 years remaining on the lease which expires in September 2028. This triple net lease features 1.50% annual rent escalations and two 5-year renewal option periods.
Long John Silver’s is the world’s most popular quick-service seafood chain serving nearly four million customers each week. The brand is at a three-year high on customer satisfaction and brand awareness is at 86%. With 1,000+ units in 43 states and two countries outside of the U.S. the brand has $530 million in annual sales and 28,000 global employees. Many of the Long John Silver’s corporate locations and new locations were combined and co-branded with A&W Restaurants. A&W Restaurants is notable for being the first successful food franchise company. There are over 1,000 U.S. and international locations serving millions of customers each day. The Long John Silvers and A&W Restaurant lease is guaranteed by Affinity Fletcher who operates over 20 stores.
• Located within the Dayton MSA
• Freestanding restaurant with drive-thru
• No landlord responsibilities
• 11 years remaining on lease with two 5-year renewal option periods
• 1.50% annual rental escalation in the primary term and renewal options
• Positioned along primary thoroughfare in the area, right off of Interstate-75, which experience a combined traffic count of 118,670 vehicles per day
• Positioned near a number of national retailers such as Kroger, O’Reilly Auto Parts and Advance Auto Parts.