Restaurant

Fazoli's - Fort Wayne, IN

6525 Stellhorn Rd, Fort Wayne, IN 46815

Listing Price: $1,140,000

Cap Rate
6.25%
Tenant Name
Fazoli's
Years Remaining On Lease
16.9
Gross SF
3,102
Guarantor
Corporate Guarantee
Rentable SF
3,102
Price/Gross SF
$367.50
Lease Type
Absolute Net
Rent Per Square Feet
$22.97

Investment Overview

The subject property is a Fazoli’s restaurant located at 6525 Stellhorn Drive in Fort Wayne, Indiana. The property consists of 3,102 square feet of building space and drive-thru situated on roughly 0.77 acres of land. This is an established Fazoli's location, tenant has been successfully operating at this site since 2007. The 20-year absolute triple-net (NNN) lease was signed in December, 2017 and is guaranteed by Fazoli’s largest franchisee, an affiliate of the Junior Bridgeman Group. The Junior Bridgeman Group operates 85 Fazoli’s restaurants, however this property is guaranteed by 67 of the locations. The scheduled rent is $71,248 and is subject to 1.5 percent annual rental increases every December. The rent increases will continue throughout the base term and in each of the four, five-year tenant renewal option. As of today, Indiana is the largest state presence for Fazoli's restaurant chain with over 34 sites.

Investment Highlights

  • 17+ Years Remaining on Absolute Net Lease
  • Established Location, 20 Year Lease extended in 2017. Fifth Largest Restaurant Franchise in the Country
  • 1.50 Percent Rental Increases Annually
  • Fort Wayne is the Second Largest City in the State of Indiana

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    License(s): IN: RB14034355

    Indiana

Listing Price: $1,140,000

Cap Rate
6.25%
Tenant Name
Fazoli's
Years Remaining On Lease
16.9
Gross SF
3,102
Guarantor
Corporate Guarantee
Rentable SF
3,102
Price/Gross SF
$367.50
Lease Type
Absolute Net
Rent Per Square Feet
$22.97

Investment Highlights

  • 17+ Years Remaining on Absolute Net Lease
  • Established Location, 20 Year Lease extended in 2017. Fifth Largest Restaurant Franchise in the Country
  • 1.50 Percent Rental Increases Annually
  • Fort Wayne is the Second Largest City in the State of Indiana

Investment Overview

The subject property is a Fazoli’s restaurant located at 6525 Stellhorn Drive in Fort Wayne, Indiana. The property consists of 3,102 square feet of building space and drive-thru situated on roughly 0.77 acres of land. This is an established Fazoli's location, tenant has been successfully operating at this site since 2007. The 20-year absolute triple-net (NNN) lease was signed in December, 2017 and is guaranteed by Fazoli’s largest franchisee, an affiliate of the Junior Bridgeman Group. The Junior Bridgeman Group operates 85 Fazoli’s restaurants, however this property is guaranteed by 67 of the locations. The scheduled rent is $71,248 and is subject to 1.5 percent annual rental increases every December. The rent increases will continue throughout the base term and in each of the four, five-year tenant renewal option. As of today, Indiana is the largest state presence for Fazoli's restaurant chain with over 34 sites.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/Regional Manager

    License(s): IN: RB14034355

    Indiana

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