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Dairy Queen 3300 13th St 3,520 SF Retail Building Ashland, KY 41102 $1,870,848 ($531.49/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- PRICE REDUCED!! 13 Years remaining on 20-year lease with 3 five-year options to renew and 8% rental increases every 5 years
- Heavy Traffic with over 16,000 cars per day, adjacent to YMCA and Paul Blazer High School
- Largest Dairy Queen Franchisee in the U.S. with over 240 locations
EXECUTIVE SUMMARY
Lease:
Dairy Queen Grill & Chill with 13 years remaining on a twenty-year NNN Lease, with 3 five-year options to renew. 8% rental increases every 5 years.
Business:
Operating in same location since 2002 (renovated in 2013) with a highly attractive rent to sales ratio.
Lease Guarantor:
Frauenshuh Hospitality Group of IN/KY LLC with this lease guaranteed by approximately 100 locations.
Franchisee:
Fourteen Foods -- the largest Dairy Queen Franchisee in the U.S., with 243 locations in Kentucky, Alabama, Florida, Indiana, Minnesota, Nebraska, South Dakota, Tennessee, North Carolina and Wisconsin.
Traffic Counts:
High drive-by visibility on 13th Street with 16,019 cars per day
Great Location:
Adjacent to YMCA and Paul Blazer High School
Excellent Demographics:
Total Population within 5 Miles: 57,576
Average Household Income: $59,818
Dairy Queen Grill & Chill with 13 years remaining on a twenty-year NNN Lease, with 3 five-year options to renew. 8% rental increases every 5 years.
Business:
Operating in same location since 2002 (renovated in 2013) with a highly attractive rent to sales ratio.
Lease Guarantor:
Frauenshuh Hospitality Group of IN/KY LLC with this lease guaranteed by approximately 100 locations.
Franchisee:
Fourteen Foods -- the largest Dairy Queen Franchisee in the U.S., with 243 locations in Kentucky, Alabama, Florida, Indiana, Minnesota, Nebraska, South Dakota, Tennessee, North Carolina and Wisconsin.
Traffic Counts:
High drive-by visibility on 13th Street with 16,019 cars per day
Great Location:
Adjacent to YMCA and Paul Blazer High School
Excellent Demographics:
Total Population within 5 Miles: 57,576
Average Household Income: $59,818
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Fast Food
Building Size
3,520 SF
Building Class
C
Year Built/Renovated
2003/2013
Price
$1,870,848
Price Per SF
$531.49
Cap Rate
6.25%
NOI
$116,928
Tenancy
Single
Building Height
1 Story
Building FAR
0.06
Lot Size
1.41 AC
Zoning
COMMERCIAL - Commercial zoning
Parking
45 Spaces (12.78 Spaces per 1,000 SF Leased)
Frontage
55’ on 13th St
AMENITIES
- Pylon Sign
- Drive Thru
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Accommodation and Food Services
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
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 | - | $9.99 | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 023-05-12-001.00 | Improvements Assessment | $1,658,000 |
| Land Assessment | $225,000 | Total Assessment | $1,883,000 |
PROPERTY TAXES
Parcel Number
023-05-12-001.00
Land Assessment
$225,000
Improvements Assessment
$1,658,000
Total Assessment
$1,883,000
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Presented by
Levine Family Trust
Dairy Queen | 3300 13th St
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