Address: 1880 East Dorothy Lane, Dayton, Ohio, United States 45429
Cap Rate: 5.50%
Lease Type: Triple Net (NNN)
Annual Rent: $98,567
Net Operating Income: $98,567
Lease Term Remaining: 15.5 Years
Rental Increases: 8% Every Five (5) Years
Options: Two (2), Ten (10)-Year
Rentable Sq/Ft: 3,036 SF
Rent Sq/Ft: $32.47
Price Sq/Ft: $590
Lot Size: +/-0.97 Acres
Marcus & Millichap is pleased to present the exclusive listing for a Wendy’s located at 1880 East Dorothy Lane in Dayton, Ohio. This property is subject to a 20-year triple-net (NNN) lease with 15.5 years remaining on the initial lease term. The offering consists of 3,036 rentable square feet of building space and sits on approximately 0.97 acres of land. The annual rent is $98,567 and is subject to 8% rental increases every five years with two (2), ten (10)-year tenant renewal option periods.
This subject investment property is located at 1880 East Dorothy Lane in Dayton, Ohio. East Dorothy Lane has an average daily traffic count of 25,000 vehicles. The subject property also benefits from its close proximity to Woodman Drive, which brings roughly 20,000 vehicles into the area, on average, each day.
The subject property is well-positioned in a main retail corridor in Dayton, with many other national and local retail and restaurant tenants. These tenants include: McDonald’s, Sonic, Kroger Taco Bell KFC, Midas, Applebee’s, Speedway, Chase Bank, Dairy Queen, Sears Outlet, Walgreens, Archers, Aldi, Bob Evans, and CVS. In addition to these numerous retail and restaurant concepts, the subject property benefits from being located roughly one and a half miles down the road from The Greene, which is a large luxury development that is comprised of retail concepts, restaurants, apartments, and office space. In addition to the strong retail area, the subject property is located within two miles of nine academic institutions. The most notable of these institutions is Kettering Fairmont High School, which has a total enrollment of over 2,300 students. The subject property is also located just over two miles southeast of the Miami Valley Hospital, which is a state of the art 848-bed medical facility.
Dayton is the sixth-largest city in state of Ohio, as well as being the county seat of Montgomery County. Dayton is home to the fourth-largest metropolitan area in Ohio and the 63rd in the United States. Dayton serves as a logistical centroid for manufacturers, suppliers, and shippers. The city also hosts significant research and development in fields such as industrial, aeronautical, and astronautical engineering that have led to many technological innovations. Much of this innovation is due in part to Wright-Patterson Air Force Base and its place in the community. With the decline of heavy manufacturing, Dayton’s businesses have diversified into a service economy that includes insurance and legal sectors as well as healthcare and government sectors. Along with defense and aerospace, healthcare accounts for much of the Dayton area’s economy. Hospitals in the Greater Dayton area have an estimated combined employment of nearly 32,000 people and a yearly economic impact of nearly $6.8 billion.
Broker of Record: Michael Glass – License # BRK.2007005898