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Tim Horton’s

1072 Ashland Rd, Mansfield, OH 44905, USA
$1,652,000

Price:
$1,652,000
Cap Rate
5.75 %
NOI
$ 95,000
Development Type
Retail
Lot Area
0.98 acre
Occupancy
100 %
Class
A
Year Built
2017
Price Per SF
834$
Tenancy
Single
Parking Spots
20
LEAD LISTING AGENT
Jesse Limon

Jesse Limon

ASSOCIATE


License No. NY 10401271892, IN RB14048415

Broker of Record

Michael Glass License: OH 2007005898

PROPERTY CONTENT

5.75% CAP | 1,980 SF | MANSFIELD, OH


OPPORTUNITY

Tim Horton’s Inc., popularly known as “Timmies,” is a Canadian fast food restaurant chain that specializes in signature premium-blend coffee drinks, baked goods and light fare. Founded by National Hockey League legend Tim Horton in 1964, it is Canada’s largest quick service restaurant chain, with a total of 4,846 restaurants in 14 countries as of 2018. The company has its headquarters in Toronto, Ontario.

Built on a backbone of fresh, 100% Arabica bean coffee and donuts, Tim Horton’s menu now features a variety of baked good and specialty beverages, including muffins, cookies, cappuccinos, espresso, hot chocolates and teas, as well as soups and made-to-order grilled paninis and wraps. Tim Horton’s coffee is served within 20 minutes of brewing, or it’s not served at all.

Tim Horton’s is one of the few quick service restaurants to offer china mugs, plates and bowls to guests dining in their restaurants, in an attempt to reduce paper waste being created. All Tim Horton’s sell reusable Tim Mugs, which come with a 10-cent discount for refills. Beginning February 2019, Tim Horton’s began to spread the installation of self-serve kiosks across Canada.

Restaurant Brands International Inc. (“RBI”) is one of the world’s largest quick service restaurant companies, with more than $32 billion in system-wide sales and over 26,000 restaurants in more than 100 countries and U.S. territories. RBI owns three of the world’s most prominent and iconic quick service restaurant brands – Tim Horton’s, Burger King, and Popeyes. These independently operated brands have been serving their respective guests, franchisees and communities for over 45 years. In July 2019, RBI signed a development deal to open 1,500 Popeyes restaurants in China over the next 10 years.

The Subject Tim Horton’s lease is guaranteed by Hill RSSUM Holdings, LLC, and both operating partners have additionally signed as additional guarantors. RENSKO/RSSUM Holdings, LLC d/b/a Tim Horton’s, based in Delaware Ohio and operated by partners Jenine Skoworn and Don Reninger, they operate 35 Tim Horton’s and 3 Jimmy John’s.


PROPERTY HIGHLIGHTS


1072 Ashland Rd, Mansfield, OH 44905, USA

LEAD LISTING AGENT
Jesse Limon

Jesse Limon

ASSOCIATE


License No. NY 10401271892, IN RB14048415