For Sale
$299,867

426 State StFremont, OH 43420

High-Yield NNN Ground Lease in Ohio

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fee-simple ownership of a brand-new (2022), 356 square foot Biggby Coffee located at 426 E State St, Fremont, OH 43420. The property sits on a 0.5-acre lot and boasts a drive-thru-only design, strategically positioned on a major commercial corridor with high daily vehicle traffic (12,000 VPD). This single-tenant, absolute NNN ground lease offers a strong 6.00% cap rate with a substantial NOI of $17,992. The lease features a 13-year remaining term with built-in 10% rent bumps every five years and three additional five-year renewal options, minimizing landlord responsibilities. The property benefits from its proximity to significant industrial employers, including Crown Battery and Kraft Heinz, creating a built-in customer base. The asking price is $299,867, translating to $842.32 per square foot. This is a rare opportunity to acquire a high-performing, low-maintenance investment in a prime location with a proven, fast-growing brand. The property's location on the eastern side of the river makes it the only drive-thru coffee shop in the area, ensuring immediate market share. The low ground rent contributes to a cheap basis in the real estate, further enhancing the investment's appeal. This is a bite-sized deal with significant upside potential.

Highlights

  • Brand-new (2022) 356 sq ft Biggby Coffee, fee simple ownership.
  • Absolute NNN ground lease with 13 years remaining, 10% rent increases every five years, and three five-year renewal options.
  • Drive-thru only location on high-traffic corridor (12,000 VPD) in Fremont, OH.
  • Strong cap rate of 6.00% and NOI of $17,992.
  • Located near major employers (Crown Battery & Kraft Heinz), creating a built-in customer base. Only drive-thru coffee shop east of the river.
  • Asking price: $299,867 ($842.32/sq ft).

Property Details for 426 State St

Property type
Retail properties, Restaurants
Square Feet
356 SF
Class
A
Year Built
2022
Buildings
1
Stories
1
Lot Size (sq. ft)
21,780 SF

Location Insight

City
Fremont
County
Sandusky
State
Ohio
Latitude
41.345445918033
Longitude
-83.105805066661
426 State St, Fremont, Ohio

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426 State St
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