Fazolis Restaurant | Outparcel to Walmart Supercenter
Green Bay, WI
Price: Contact BrokerCap Rate: Building SF: 3,766 SFLot Size: 28,488 SFYear Built: 1997Status: Closed

Investment Highlights: 

Fazoli’s Restaurants: Nationally Recognized Brand – Corporate Lease Guaranty – Revitalized & Growing Concept – The property is leased to and guaranteed by Fazoli’s Restaurants, LLC (Corporate), an Italian-American fast casual restaurant chain with nearly 220 restaurants in 27 states.  Since the beginning of 2018, Fazoli’s has opened five restaurants across the country with plans to open an additional seven by year’s end for a total of 12 locations, setting a record for the most openings since 2002 (Source-Fast Casual.com).

20+ Year Operating History – 4.95% Rent to Sales Ratio – Commitment to Site – Rent Growth – Fazoli’s has operated at this location since 1997 (20+ years).  The Tenant has reported an ideal 4.95% rent to sales ratio at this location and recently exercised their first Option to Extend, reflecting their commitment to the site. The lease features (2) additional 5-year options with 6% rent increases staggered throughout the remaining term and the additional Option periods. The Absolute NNN structure of the ground lease offers zero landlord responsibilities, providing an investor with a passive income stream. 

Located on Outparcel to Walmart Supercenter – Dense Retail Corridor – Excellent Visibility & Access – The subject property is located on an outparcel to a Walmart Supercenter with strong co-tenants in the center including Sam’s Club, Schlotzsky’s, O’Reilly Auto Parts, Bank Mutual, Cost Cutters, Gamestop, and Sally Beauty. The subject property fronts W Mason St, offering excellent visibility to 36,000+ cars per day, and is situated in a dense retail area with neighboring tenants such as Festival Foods, Cricket Wireless, Chase Bank, Chili’s, Planet Fitness, McDonald’s, Petco, Burger King, Pizza Hut, and more.  

Dense Infill Location – Excellent Surrounding Demographics – Close to Nearby North Wisconsin Technical College – The Fazoli’s sits adjacent to the North Wisconsin Technical College, a nationally-ranked, two-year public college with an enrollment of approximately 32,000 students. The property is strategically located in a dense infill location surrounded by residential, retail centers, schools and business parks, providing a strong customer draw to the trade area. It benefits from outstanding demographics, with over 110,000 people within a 5-mile radius with an average household income over $73,000.

Proximity to Highway 141 – Quick Access to Downtown Green Bay – Proximity to Green Bay Austin Straubel Int’l Airport – The property is located less than a half-mile from the on/off ramp to Interstate 41 (70,000 cars per day), making it an easy on/off stop for commuters traveling to/from nearby cities. The property’s ideal location offers a direct route to Downtown Green Bay just 5 miles away via W. Mason St. Additionally, the subject property is situated in the ‘shadow’ of the Green Bay Austin Straubel International Airport, located just 3 miles southwest of the Fazoli’s.

Located in Green Bay – Third Largest City in Wisconsin – Diverse Economy – Major Shipping Port – The subject property is located in Green Bay situated within Brown County, which has a population of roughly 220,000. As the oldest city in the state, Green Bay remains the county center and is the third largest city in Wisconsin after Milwaukee and Madison. It is one of the most progressive and rapidly growing cities in Wisconsin while still retaining some of the most beautiful and charming residential suburbs. Green Bay is an industrial city with a major shipping port on Green Bay, an arm of Lake Michigan known locally as “the Bay of Green Bay”. The Port of Green Bay is an integral part of a healthy Northeastern Wisconsin economy and provides a critical link to national and global markets for Wisconsin enterprises. The estimated annual economic impact of the Port is approximately $83 million.


Ryan Barr

rbarr@lee-associates.com
O. 760.448.2446
F. 760.929.9977

Ryan Bennett

rbennett@lee-associates.com
O. 760.448.2449
F. 760.929.9977