July 26, 2022 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of an Arby’s in Ravenna, Ohio. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $2,000,000.
Arby’s is located at 4231 Lynn Road in Ravenna, Ohio. Arby’s signed a new, 20-year lease at the Property in 2015. The absolute triple-net lease currently has 13+ 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 exceptionally well located along Lynn Road and is adjacent to the signalized intersection of Lynn Road and Ravenna Louisville Road (OH Routes 5 & 44), which sees more than 20,000 vehicles per day. Arby’s is approximately 1,000 feet from Interstate 76 and the exit 38 on/off ramps. The Property is 0.75 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.