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Dairy Queen Grill & Chill 1222 S Shannon St 2,276 SF Retail Building Van Wert, OH 45891 $1,583,000 ($695.52/SF) 6% Cap Rate
Investment Highlights
- Operating History & Site Commitment
- Capital Improvements
- Zero Landlord Responsibilities
- Long Term Lease
- Attractive Rent Increases
- Strategic Location
Executive Summary
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a Dairy Queen located at 1222 South Shannon Street in Van Wert, OH (the “Property”). Dairy Queen has a long operating history at the Property, opening in 1991, and has executed multiple lease extensions demonstrating their commitment to the site and market. In 2023, Dairy Queen executed a long-term, 20-year lease extension in addition to building renovations, and the Absolute NNN Lease currently has over 17 years of term remaining. Dairy Queen is positioned along South Shannon Street, one of Van Wert’s primary commercial corridors, offering excellent visibility, prominent signage, and convenient access with ample on-site parking. The Property benefits from steady traffic generated by nearby retailers and restaurants, notably two grocery- anchored centers featuring Ruler Foods (directly adjacent) and Chief Supermarket (across the street), as well as residential neighborhoods surrounding Downtown Van Wert, just over a mile away. The site is further supported by proximity to OhioHealth Van Wert Hospital, 1.5 miles away, Van Wert’s Public Schools, 0.5 miles away, and a large manufacturing facility for Greif, Inc, just under a mile away. The Property offers easy access to US Routes 127, 30, and 224, allowing for broader regional transportation. Van Wert is located approximately 35 miles southeast of Fort Wayne, Indiana, and 95 miles southwest of Toledo, Ohio, providing access to larger regional employment, retail, and consumer markets.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,276 SF
Building Class
C
Year Built/Renovated
1970/1985
Price
$1,583,000
Price Per SF
$695.52
Cap Rate
6%
NOI
$95,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
1.11 AC
Zoning
C - Commercial
Frontage
266’ on South Shannon Street
Amenities
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- -
- -
- Triple Net
- Sep 2043
International Dairy Queen Inc., (IDQ), headquartered in Minneapolis, Minnesota, is the parent company of American Dairy Queen Corporation and Dairy Queen Canada, Inc. Through its subsidiaries, IDQ develops, licenses and services a system of many DQ restaurants in many countries. IDQ is a subsidiary of Berkshire Hathaway Inc., which is led by Warren Buffett, the legendary investor and CEO of Berkshire.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | - | - | Triple Net | Sep 2043 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 12-030475.3900 | Improvements Assessment | $89,660 |
| Land Assessment | $23,150 | Total Assessment | $112,810 |
Property Taxes
Parcel Number
12-030475.3900
Land Assessment
$23,150
Improvements Assessment
$89,660
Total Assessment
$112,810
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Dairy Queen Grill & Chill | 1222 S Shannon St
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