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Buffalo Wild Wings Portfolio

$ 15,027,748
Lima, St. Mary’s, Ohio
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Address: 442 Fortman Drive.OH 45885 2948 Allentown Road Lima OH 45805, Lima, St. Mary’s, Ohio, United States

Type: Restaurant

Cap Rate: 6.35%

Lease Type: Absolute Triple-Net (NNN)

Annual Rent: $954,262

Net Operating Income: $954,262

Lease Term Remaining: 16.4 Years

Rental Increases: 2.25% Annually

Options: Two (2), Five (5)-Year Option Periods

Year Built: 2005

Rentable Sq/Ft: 18,742 SF

Rent Sq/Ft: $50.92

Price Sq/Ft: $802

Lot Size: +/- 5.02 Acres

Marcus & Millichap is pleased to present the exclusive listing for a Buffalo Wild Wings portfolio located in Lima, Ohio, St. Mary’s, Ohio, and Bridgeport, West Virginia. The sites consist of roughly 18,742 rentable square feet of building space on estimated 5.02-acres of land. The Buffalo Wild Wings are subject to a 20-year absolute triple-net (NNN) master lease, which commenced January 27, 2016. The current annual rent is $954,262 and is scheduled to increase by two and one-quarter (2.25%) percent annually. There are two, five-year tenant renewal options. The lease is guaranteed by Grube Enterprises LLC, as well as the franchisee entity of each of the three locations.

This Buffalo Wild Wings investment property is situated just off of West Virginia Route 279, which serves as an access road to Interstate Highway-79. West Virginia State Route-270 and Interstate Highway-79 boasts average daily traffic counts of approximately 15,000 and 56,000 vehicles, respectively. There are more than 18,600 individuals residing within a five-mile radius of the property and more than 76,000 individuals within a ten-mile radius. This investment property also benefits from being located in an affluent area with an average income greater than $97,000 in a three-mile radius.

This Buffalo Wild Wing’s property benefits from being well-positioned in a dense retail corridor consisting of many national and local tenants, shopping centers, and hospitality accommodations all within close proximity of this property. Major national tenants in the area include Friday’s, iHop, Dunkin’ Donuts, Subway, Wells Fargo, Little Caesars, Sheets, Sweet frog, Starbucks, and several other quick service restaurants. There are several Hospitality accommodations within the immediate area, including Holiday Inn, Comfort Inn, Wingate by Wyndham, Courtyard by Marriott, Howthorn Suites by Wyndham, and Microtel Inn & Suites by Wyndham. This investment property benefits from being within a two-mile radius of United Hospital Center, a 375-bed facility. United Hospital Center is the result of a merger between St. Mary’s and Union Protestant hospitals in 1970. This bold move provides north central West Virginia with a regional community hospital that offers a vast array of services. The new UHC opened in 2010 and is located along Interstate 79 in Bridgeport. The 692,000-square-foot structure rises eight stories. It is designed around the environment with the patient, family, staff and community in mind – which includes enhanced patient privacy, a high level of technology integration and improved access to care. The acute care facility has 292 private inpatient rooms and 24 observation rooms with a medical staff that consist of more than 140 primary care and specialty physicians. UHC employs more than 2,000 associates and is a member of WVU Medicine.

Twenty miles from the Buffalo Wild Wings property is Morgantown, West Virginia. Morgantown is the largest city in North-Central West Virginia and offers plenty of opportunity for business development and expansion as this is one of the major growth areas of the State. Morgantown continues to grow and develop in many areas including housing, manufacturing, research, and commercial sectors. An extensive health care network and the continued growth of advanced technology industries along the “I-79 High Tech Corridor” helps to ensure a bright future for the town. Other key industries include engineering, construction, mining, and energy. It is also one of the fastest growing counties in the State. Morgantown is home to West Virginia University, the largest institution of higher education in the State and is the medical, cultural and commercial hub of the region.


Broker of Record:  Michael Glass License #BRK.2007005898

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Glen Kunofsky

President, Founder
(212) 430-5115

Russell Wachtler

Senior Managing Director, Investments
(212) 430-5132

Mark Epchteine

(212) 430-5223