Historical Retail Sale Listing - Arby's / Phillips 66

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Arby's / Phillips 66

1968 U.S. Highway 31, Lapaz, IN 46537

N/A

5,314 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
5,314 SF
Property Type:
Retail
Property Sub-type:
Restaurant
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
10%
Occupancy:
100%
Tenancy:
Multiple
Lot Size:
2.17 AC
Listing ID
16678936
Last Updated
over 1 year ago

Highlights

  • Long Term Leases of 15 and 16 Years Remain
  • Arby's Lease is Guaranteed by Arby's Restaurant Group, Which is a Wholly Owned Subsidiary of Wendy's/Arby's Group (WEN)
  • Arby's Restaurant Group Accounts for Two-Thirds of the Total Income
  • Located on a Hard Corner of Two Busy Highways with Traffic Counts Exceeding 29,000 Vehicles per Day
  • Proven Location Has Been in Business for 16 Years
  • Arby's Restaurant Group Accounts for Two-Thirds of the Total Income

Description

The subject property is a freestanding co-branded Arby' s/Phillips 66 located off of U.S. 31 in La Paz, Indiana. Built in 1994, the subject property totals 5,269 square feet and sits on 2.17 acres. The Arby' s is operated by the Arby' s Restaurant Group (ARG) with a 20 year lease that commenced in December 2005. The Arby' s Restaurant Group is a combination of Triarc Companies (Arby' s franchisor and parent company) and the RTM Restaurant Group (Arby' s largest franchisee) and currently owns and operates over 1,000 Arby' s throughout the United States. In 2009, Arby's joined forces with Wendy's and ARG is now a wholly owned subsidiary of the publicly traded Wendy's/Arby's group (WEN).

The Phillips 66 is operated B&R Oil with a 20 year lease that commenced in December 2005. B&R owns and rents out 21 retail gas stations and distributes more than 100 million gallons of fuel to 73 Phillips 66 and CITGO retail stations. Their parent company is Simon Holdings whose related companies have revenues in excess of $750 million.

La Paz is located in north central Indiana approximately 15 miles south of the South Bend/Mishawaka area. The subject property is located at the intersection of U.S. 31 and U.S. 6 which are two of the most heavily traveled thoroughfares in Northern Indiana. Interstate 31 extends from the northern tip of Indiana all the way to the heart of Indianapolis.

Map of 1968 U.S. Highway 31, Lapaz, IN 46537 (Marshall County)

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Created 5/10/2010