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Giordano's 10180 Diebold Rd 5,541 SF Retail Building Fort Wayne, IN 46825 $3,575,000 ($645.19/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term Lease: The subject property offers a 15-year absolute triple-net lease upon close of escrow.
- Zero Landlord Responsibilities: This Giordano’s investment offers an incoming investor a complete passive investment opportunity with a NNN lease.
- Surrounded by New Developments: In the last 24 months, this corridor has seen new multi-family and retail shopping center developments.
- Prime Retail Corridor Location: Located off of E Dupont Road, a major retail corridor and main thoroughfare that experiences +/-30K VPD.
- Affluent Demos: The Property is located in an area of Fort Wayne that has an average household income of +/-100K in a 3-mile radius.
EXECUTIVE SUMMARY
Built in 2020, the Subject Property is located off the intersection of Diebold Road and E Dupont Road, which is one of the busiest and highly-traveled corridors in the entire city and experiences +/-30,000 VPD. The immediate area is filled with numerous local, regional and national retailers, apartment complexes, and medical and traditional office buildings and directly across the street is the Parkview Health Campus, a +/-1M-square foot medical and hospital complex spanning 260 acres. The Property sits on 1.41 acres and in the entrance of a commercial development that contains Meijer, Smoothie King, Qdoba, Holiday Inn Express, Mike’s Car Wash, Valvoline and other retailers. This Giordano’s is being offered as an absolute, triple-net lease investment that will have a brand-new, 15-year lease signed upon closing; offering any incoming investor long-term investment passivity with zero landlord responsibilities. The lease contains 1.50% annual rental escalators throughout the base term of the lease and during each of the two, five-year renewal options; offering an increased return on the investment year-over-year. This is a great opportunity to own a passive, long-term, net-lease investment in a submarket that is experiencing accelerated residential and commercial growth.
PROPERTY FACTS
AMENITIES
- Restaurant
- Signage
- Tenant Controlled HVAC
- Monument Signage
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- 5,541 SF
- $48.40
- Triple Net
- Dec 2040
Its creation began in a small northern Italian town near Torino, Italy. Mama Giordano was famous around town for her exquisite cooking. Of all her renowned dishes, her most beloved meal was her “Italian Easter Pie”. Mama Giordano would serve this double- crusted, cheese stuffed masterpiece on special occasions. This pizza pie became a sacred tradition in the Giordano family and a legend in the town of Torino. Years later, Italian immigrants Efren and Joseph Boglio moved to Chicago to start their own pizza business. The brothers introduced their Mama’s recipe for stuffed pizza. In 1974, on Chicago’s historic south side, Efren and Joseph opened the first Giordano’s in the world. Over the next 40 years and counting, millions of happy and loyal fans as well as hundreds of critics call Giordano’s the city’s “best” stuffed pizza! The rest is history you can still taste today, along with our other great starters, fresh salads, outstanding pastas and unique sandwiches.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Accommodation and Food Services | 5,541 SF | $48.40 | Triple Net | Dec 2040 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 02-08-05-200-004.005-063 | Improvements Assessment | $1,135,400 |
| Land Assessment | $947,900 | Total Assessment | $2,083,300 |
PROPERTY TAXES
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Giordano's | 10180 Diebold Rd
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