This is a net leased Jimmy John’s restaurant with the current lease term ending January 31, 2034. It’s being offered at a 6% cap rate. There are 3% annual increases in the lease. The lease calls for minimal landlord responsibility which is limited to major structural and roof. Tenant is responsible for all other maintenance and operating expenses.
Ford Parkway Arterial Street.
Ford Parkway is a four-lane arterial with a center turn lane. Average daily traffic (ADT) is 12,200 in front of the restaurant and Cleveland Avenue lies half a block to the west and has a 15,100 ADT.
This Jimmy John’s location is less than half a mile east of the former Ford Motor Assembly Plant that is currently undergoing redevelopment. The money being spent on this site will exceed one billion dollars. In addition, St. Catherine’s University is less than ½ mile north of this property.