Noah’s – Ohio
20-Year NNN Lease
Current Yield: 7.00%
Initial Term Average Yield: 8.50%
This deal is COMPLETED. For current 1031 offerings or help with your 1031 exchange, please contact us.
Property Info
Tenant:
Noah's
Address:
4849 Acorn Drive, Independence, OH
Year Build:
Under Construction
Total Sq Ft.:
12,000
Property Type:
Single Tenant, Freestanding
Ownership Type:
TIC
Non-Accredited Investors:
Yes
Minimum Investment:
$150,000
Ohio TIC Property
This brand new location has a 20-year triple net lease that is ideal for the 1031 exchangor seeking passive monthly income. Today’s conference and small event industry is largely a “Mom and Pop” industry. As such, there is little consistency between options. It’s in this landscape that Noah Corporation has been successful. Noah’s business model is built on small meeting and event spaces has shown to be recession-resistant because the services they offer are catered to the one-time life events (marriage, etc.) and necessary business events. Noah’s competitive advantage lies in that they do not stray beyond their core business – the rental of facility. They don’t offer food service, decorations, or outside entertainment. They’ve demonstrated their ability to achieve profitability and continue to expand with 39 locations. Tenant-in-common investment allows investors with as little as $150,000 to received interest in a high grade real estate and vibrant tenant. Contact us for info on all current T’IC Properties >>>
Tenant Info
Tenant:
Noah's
Revenues:
NA
No. of Locations:
60
Website:
noahseventvenue.com
Demographics
Location:
Independence, OH
Population:
7,114
Median Household Income:
$84,900
Independence, Ohio is an af uent suburb of Cleveland situated conveniently at the crossroads of I-480 and I-77 in the heart of Cuyahoga County. More than two million residents live in the metro area which has a robust and diversi ed economy with major contributions from education, manufacturing, health care and banking. Eight Fortune 500 companies and 22 Fortune 1000 companies are headquartered in the area along with more than 150 international corporations. In recent years, Cleveland has been enjoying a renaissance as this metro area on the banks of Lake Erie is experiencing tremendous growth and revitalization. Cleveland residents enjoy the bene ts of a big-city, such as excellent employment, cultural
and educational opportunities, while maintaining an exceptionally low cost of living. National Geographic Traveler named Cleveland to its 2018 “Best of World” list calling it “an immigrant-established industrial city that pulsates with creative energy.” The area is home to the Cleveland Cavaliers of the NBA, the Cleveland Browns of the NFL and the Cleveland Indians of the MLB.
Lease Info
Type:
NNN
Term:
20 years
Corp. Guaranteed Lease:
Yes
Rent Commencement:
May 2018
Lease Expiration:
May 2038
Owner Responsibility:
None
Tenant Responsibility:
Taxes, Insurance, Utilities, Maintenance
Current Annual Rent:
$431,500
Rent Escalations:
2% Annual Increases
Renewal Options:
(2) 10-year renewal options