Property Overview

I recently helped a good friend and client acquire this significant investment opportunity. The subject property located at 800 E Main St, Jackson, OH 45640, had been home to a Pizza Hut for many years, featuring a long-term lease with scheduled increases.

Strategic Insights

Once under contract, we began a thorough due diligence process. This included analyzing traffic patterns, area demographics, and sales comps of nearby properties. We also used software tools to estimate foot traffic, ensuring we had a comprehensive view of the property’s market position.

Due Diligence Process

As part of our due diligence, I coordinated quotes from various vendors, including environmental engineers, appraisers, and surveyors, arranging on-site evaluations. We also requested the store and guarantor financials to assess the strength of the tenant and the lease guarantor.

Challenges Encountered

We faced delays in obtaining the financials due to reporting requirements in the lease and the timing (mid-February). This slowed down the due diligence process and forced us to request an extension as we neared our contingency deadline. With the seller eager to close, maintaining clear communication among all parties was critical in navigating this challenge effectively.

Outcome

We received the financials a few days later, verified their accuracy, and closed on the property soon thereafter. This transaction serves as a reminder that commercial real estate deals can involve unexpected obstacles, requiring a skilled professional to guide the process.

Conclusion

If you’re interested in buying or selling investment property across the U.S., I’d be honored to assist you! Reach me at 502-536-7315 or raphael@grisantigroup.com.