July 27, 2022 – Steven Schiavello and Patrick Gray of Horvath & Tremblay have successfully completed the sale of an Arby’s in Chardon, Ohio. Horvath & Tremblay exclusively represented the seller to complete the transaction at a sale price of $1,300,000.
Arby’s is located at 417 Water Street in Chardon, 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 Water Street (US Route 6) and is 600 feet from the signalized intersection of Water Street and Wilson Mills Road/Cherry Avenue which sees more than 14,600 vehicles per day. The Property enjoys excellent visibility, frontage, and access along Water Street, one of the area’s primary commercial and commuter corridors which is home to numerous national and local retailers and businesses. The Property is situated in the center of the town and is within 1-mile of the municipal offices and the Chardon High School and Middle School.
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.