It’s not often you come across a deal when you know the tenant is making a fortune and there is ZERO risk of the tenant leaving before the term is up. In this case in Cincinnati that is the exact situation. The rent to sales ratio is being reported @ 2.9% which is extremely low and indicates this is a “homerun” location for Raising Cane’s, and they will never leave! https://www.raisingcanes.com
Cincinnati isn’t the garden spot of the world, but the people are great and this aera is middle class and hardworking blue color American patriots who just want to raise their children and go about their lives. This area of Cincinnati has a bunch of schools and hospitals that will be traffic drivers to this excellent corner property for generations to come.
I grade this deal a B- and would try to get the deal for a 5.25% cap rate.
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