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GetGo Ground Lease

6800 Center Street, Mentor, OH 44060

Listing Price: $3,500,000

Cap Rate
4.71%
Tenant Name
GetGo Cafe & Market
Years Remaining On Lease
19.2
Gross SF
2,490
Guarantor
Corporate Guarantee
Rentable SF
2,490
Price/Gross SF
$1,405.62
Lease Type
NNN Ground Lease
Rent Per Square Feet
$66.27

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale, GetGo Ground Lease located in Mentor, Ohio. The subject property has over 19 years remaining on newly constructed GetGo Café and Market. GetGo has an absolute triple-net lease with zero landlord responsibilities. This location is located on Center Street and Route 615 and sees 25,000 vehicles per day. GetGo Ground Lease is being offered for $3.5 million.

Investment Highlights

  • Over 19 Years Left on New Construction GetGo Café and Market 20-Year Ground-Lease
  • Absolute Triple-Net Lease – Zero Landlord Responsibilities
  • Latest Prototype with Double Drive-Thru and Six-Pump Fuel Station – Approximately 2,490 Square Feet with High-Image Modern Architecture; 8/2021 Construction Commencement, 11/2021 Scheduled Completion
  • Highway Exit Location – Directly Adjacent to OH-2 Exit Ramps, OH-2 Sees 52,000 Vehicles per Day
  • Five Percent Rent Increase in Years 11 and 16 of the Initial Lease Term; 10 Percent Bump in First Option
  • Guaranty from "GIANT EAGLE, INC."; Giant Eagle is One of the Largest Private Companies4 in the U.S. (Estimated $9.2 Billion in Annual Revenue – 218 Supermarkets and 485 Total Stores Including GetGo Locations)
  • Excellent Accessibility – Direct "Right-In" Curb Cut onto Center Street; Shares Signalized Entrance and Multiple Points of Ingress/Egress with Giant Eagle Allowing Easy Access from Any Direction
  • Outparcel to Newly Built Freestanding Giant Eagle Supermarket on 20-Year Lease Acting as a Long-Term Traffic Driving Shadow Anchor

Exclusively Listed By

Financing By

Auto Service - Gas-Conv

GetGo Ground Lease

Listing Price: $3,500,000

Cap Rate
4.71%
Tenant Name
GetGo Cafe & Market
Years Remaining On Lease
19.2
Gross SF
2,490
Guarantor
Corporate Guarantee
Rentable SF
2,490
Price/Gross SF
$1,405.62
Lease Type
NNN Ground Lease
Rent Per Square Feet
$66.27

Investment Highlights

  • Over 19 Years Left on New Construction GetGo Café and Market 20-Year Ground-Lease
  • Absolute Triple-Net Lease – Zero Landlord Responsibilities
  • Latest Prototype with Double Drive-Thru and Six-Pump Fuel Station – Approximately 2,490 Square Feet with High-Image Modern Architecture; 8/2021 Construction Commencement, 11/2021 Scheduled Completion
  • Highway Exit Location – Directly Adjacent to OH-2 Exit Ramps, OH-2 Sees 52,000 Vehicles per Day
  • Five Percent Rent Increase in Years 11 and 16 of the Initial Lease Term; 10 Percent Bump in First Option
  • Guaranty from "GIANT EAGLE, INC."; Giant Eagle is One of the Largest Private Companies4 in the U.S. (Estimated $9.2 Billion in Annual Revenue – 218 Supermarkets and 485 Total Stores Including GetGo Locations)
  • Excellent Accessibility – Direct "Right-In" Curb Cut onto Center Street; Shares Signalized Entrance and Multiple Points of Ingress/Egress with Giant Eagle Allowing Easy Access from Any Direction
  • Outparcel to Newly Built Freestanding Giant Eagle Supermarket on 20-Year Lease Acting as a Long-Term Traffic Driving Shadow Anchor

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale, GetGo Ground Lease located in Mentor, Ohio. The subject property has over 19 years remaining on newly constructed GetGo Café and Market. GetGo has an absolute triple-net lease with zero landlord responsibilities. This location is located on Center Street and Route 615 and sees 25,000 vehicles per day. GetGo Ground Lease is being offered for $3.5 million.

Exclusively Listed By

Financing By

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