Galloway, OH - Subway

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, freestanding, drive-thru equipped, Subway investment property located in Galloway, Ohio. The tenant has 2 years remaining on its initial lease with 3 (5-year) options to extend. The lease features 10% rental increases at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

Subway is located near the signalized, hard corner intersection of Norton Road and Hall Road, serving a combined 23,700 vehicles passing daily. The site is nearby
on/off ramps of Interstate 270 (79,500 VPD), the primary highway serving the surrounding Columbus metropolitan area. Nearby national/credit retailers include Walmart Supercenter, Home Depot, and the Georgesville Square featuring a Kroger grocer, Lowe’s Home Improvement, and Buffalo Wild Wings. The subject property receives significant crossover retail exposure and consumer traffic generated by the nearby national retailers and major highways. Furthermore, Norton Road provides direct access from Westland High School, Norton Middle School, Prairie Norton Elementary, and the surrounding suburbs to the site just 1-mile south. The immediate area represents an ideal consumer base from which to draw, comprised of many single family homes and 750+ multi-family and apartment units within walking distance of the site at the intersection of Norton Road and Hall Road. The 5-mile trade area is supported by a population of over 181,700 residents and 54,900 employees with an average household income of $81,120.