September 9, 2022 –Patrick Gray, Steven Schiavello and Matt Nadler of Horvath & Tremblay have successfully completed the sale of an Arby’s in Ravenna, Ohio. Horvath & Tremblay exclusively represented the seller and procured the buyer to complete the transaction at a sale price of $1,070,000.
Arby’s is located at 417 W Main Street in Ravenna, Ohio. Arby’s signed a new, 15-year, lease at the Property in 2015. The absolute triple-net lease currently has 8+ years of term remaining plus four (4), 5-year renewal options. Both the initial term and renewal terms include an attractive 5% rent increase every five years. The Arby’s lease is corporate guaranteed. The Property is well located along W Main Street (OH Route 59) and is adjacent to the signalized intersection of Main Street and Sycamore Street. The Property enjoys excellent visibility, frontage and access from Main Street, the area’s primary commercial corridor which is home to numerous national and local retailers and businesses. The Property is within 1-mile of the Ravenna High School and Brown Middle School, 4-miles from Northeast Ohio Medical University and the Rootstown High School, Middle School and Elementary Schools, and is 5-miles from Kent State University.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.