Cinemark Rave Cinema Ground Lease
2300 Village Dr E #1700, Maumee, OH, USA Map
Listing Price $8,662,650
| Status | Active |
| Lease Type | Ground Lease |
| Property Type | Retail |
| CAP Rate | 8% |
| GLA (Sq. Ft.) | 57,450 |
| NOI | $693,012 |
| Lease Term Remaining | 4.75 Years |
| Options | 2 x 5 Years |
| State (BOR) | OH |
| Broker of Record | Michael Glass |
| License # (BOR) | BRK 2007005898 |
Investment Highlights
- Robust Traffic Counts on Fallen Timbers Lane
(5,448) and Russel Road (4,326 VPD), a Tenth of
a Mile off of Highway 24 (43,836 VPD) (Source:
LandVision, CoStar, 2022) - Located in The Shops at Fallen Timbers, an Outdoor
Lifestyle Center | National Retailers Include:
JCPenney, Barnes & Noble, Dillard’s, Kay Jewelers,
Men’s Warehouse, Red Robin, University of Toledo
Medical Center, P.F. Chang’s, and Others - Affluent Community with an Average Household
Income of Over $132,000 Within One Mile of the
Subject Asset, as of 2022 - Parks and Outdoor Recreational Facilities Nearby
Include: Sidecut Metro Park, Toledo Zoo, Toledo
Museum of Art, Toledo Country Club, Maumee Bay
State Park Beach, Audubon Islands, and More - Subject is Less than 12 Miles from Downtown Toledo
with a Population of 268,508 and Nine Miles from
Toledo Express Airport, Serving a Quarter of a Million
Passengers Annually (www.toledoexpress.com
Investment Overview
Subject is a Prime 57,450 Square-Foot Build-to Suit Rave Cinema on a 2.21-Acre Lot with Ample Parking, Easy Ingress/Egress, Strategically Located Opposite a Hard Corner in the Upscale Fallen Timbers Outdoor Mall. Ground Lease with Just Under 5 Years Remaining and Zero Landlord Responsibility | 2 x 5-Year Options.
