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Restaurant

Torchy's Tacos - 15 Year Lease

1478 Gemini Pl, Columbus, OH 43240

Listing Price: $4,063,000

Cap Rate
4.50%
Tenant Name
Success Food Management Group, LLC
Years Remaining On Lease
14.7
Gross SF
3,450
Guarantor
Corporate Guarantee
Rentable SF
3,450
Price/Gross SF
$1,177.68
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$53.00

Investment Overview

Founded in a food trailer in Austin, Texas in 2006, Torchy’s Tacos is a rapidly expanding “craft casual” brand that offers a wide selection of handcrafted tacos, queso, margaritas and more. After raising $400 million in funding in November of 2020, Torchy’s is continuing its expansion, opening locations in Arizona, Florida, North Carolina, Indiana, Ohio, and Tennessee between 2021 and 2022, expecting to be in 17 states by 2025. Revenue continues to surge, with an Average Unit Volume of $3.8 million. In 2021 alone, Torchy’s saw a revenue of more than $300 million, even in a pandemic-addled industry. Columbus is the fastest growing city in the Midwest, with a vibrant blend of arts and culture; inspired culinary, fashion, music and entertainment scenes; exciting collegiate and professional sports; and an open, entrepreneurial spirit. Thanks to the sprawling Ohio State University and a wide array of businesses, it’s also home to a bustling and energetic workforce. A prosperous economy draws millennials, creating a young and energetic atmosphere throughout the city.

Investment Highlights

  • Brand New 15 Year Absolute Triple-Net (NNN) Lease
  • 10 Percent Rental Increases Every Five Years with Two, Five-Year Renewal Options
  • 196,633 Residents Within a Five-Mile Radius - Infill Columbus
  • Located in Prime Retail Corridor - Shared Ingress/Egress with Costco, Carfagna's, Hobby Lobby, Burlington, Ross, Panda Express, and Burger King
  • Excellent Visibility at Signalized Corner Along Gemini Place (30,725 Cars per Day) with Immediate Connection to Interstate-71 (140,924 Cars per Day)
  • Adjacent to Polaris Fashion Place with Major National Retailers - Public Lands by Dick's Sporting Goods, JCPenney, Macy's, Von Maur, The Cheesecake Factory, and More
  • Columbus has Benefited from $40 Billion in New Development Over the Past Decade
  • Close Proximity to John Glenn Columbus International Airport - Traffic Reached 8.6 Million Passengers in 2019

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

Financing By

Restaurant

Torchy's Tacos - 15 Year Lease

Listing Price: $4,063,000

Cap Rate
4.50%
Tenant Name
Success Food Management Group, LLC
Years Remaining On Lease
14.7
Gross SF
3,450
Guarantor
Corporate Guarantee
Rentable SF
3,450
Price/Gross SF
$1,177.68
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$53.00

Investment Highlights

  • Brand New 15 Year Absolute Triple-Net (NNN) Lease
  • 10 Percent Rental Increases Every Five Years with Two, Five-Year Renewal Options
  • 196,633 Residents Within a Five-Mile Radius - Infill Columbus
  • Located in Prime Retail Corridor - Shared Ingress/Egress with Costco, Carfagna's, Hobby Lobby, Burlington, Ross, Panda Express, and Burger King
  • Excellent Visibility at Signalized Corner Along Gemini Place (30,725 Cars per Day) with Immediate Connection to Interstate-71 (140,924 Cars per Day)
  • Adjacent to Polaris Fashion Place with Major National Retailers - Public Lands by Dick's Sporting Goods, JCPenney, Macy's, Von Maur, The Cheesecake Factory, and More
  • Columbus has Benefited from $40 Billion in New Development Over the Past Decade
  • Close Proximity to John Glenn Columbus International Airport - Traffic Reached 8.6 Million Passengers in 2019

Investment Overview

Founded in a food trailer in Austin, Texas in 2006, Torchy’s Tacos is a rapidly expanding “craft casual” brand that offers a wide selection of handcrafted tacos, queso, margaritas and more. After raising $400 million in funding in November of 2020, Torchy’s is continuing its expansion, opening locations in Arizona, Florida, North Carolina, Indiana, Ohio, and Tennessee between 2021 and 2022, expecting to be in 17 states by 2025. Revenue continues to surge, with an Average Unit Volume of $3.8 million. In 2021 alone, Torchy’s saw a revenue of more than $300 million, even in a pandemic-addled industry. Columbus is the fastest growing city in the Midwest, with a vibrant blend of arts and culture; inspired culinary, fashion, music and entertainment scenes; exciting collegiate and professional sports; and an open, entrepreneurial spirit. Thanks to the sprawling Ohio State University and a wide array of businesses, it’s also home to a bustling and energetic workforce. A prosperous economy draws millennials, creating a young and energetic atmosphere throughout the city.

Exclusively Listed By

Broker of Record

  • Michael L. Glass

    Senior Vice President / Division Manager

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

Financing By

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