Description

Pegasus Investments Real Estate Advisory Inc., in conjunction with ParaSell, Inc., is pleased to present the fee simple interest in a newly remodeled CAVA drive-thru property located in the thriving Hilliard submarket within the greater Columbus metropolitan area. Originally developed as a drive-thru QSR site, the 2,882-square-foot building underwent a complete renovation in 2026 for CAVA and is situated on a full one-acre parcel. The property is secured by a brand-new 15-year net lease with CAVA Mezze Grill, LLC, a wholly owned subsidiary of CAVA Group, Inc. (NYSE: CAVA), one of the fastest-growing and most compelling restaurant concepts in the industry. Positioned as an outparcel to Target, which attracts more than 1.2 million annual visits according to Placer.ai, the property is surrounded by one of the strongest concentrations of national retailers in the Columbus market, including Sam's Club, Meijer, Walmart, Kohl's, and Burlington. The surrounding quick-service restaurant corridor is equally impressive, featuring nationally recognized operators such as Chick-fil-A, Chipotle, Starbucks, McDonald's, Panda Express, Texas Roadhouse, and Outback Steakhouse. The property benefits from exceptional demographics and long-term growth fundamentals, with Hilliard’s population increasing more than 30% since 2010 and projected to grow another 50% by 2050. More than 189,000 residents live within a five-mile radius, supported by average household incomes approaching $100,000 across both the three- and five-mile trade areas. Strategically located along Hilliard Rome Road, a major commercial corridor carrying approximately 23,000 vehicles daily and offering direct access to Interstate 70, the property captures commuter, residential, and regional consumer traffic alike. The lease is structured as a corporate NN lease with 10% rent increases every five years throughout the base term and all three renewal options, while offering a clear pathway to a virtually hands-off NNN structure through roof replacement provisions. The investment is further supported by the remarkable momentum of CAVA, which generated approximately $1.18 billion in fiscal 2025 revenue, reflecting 23% year-over-year growth. With 439 locations across 26 states and an ambitious expansion strategy targeting 1,000 locations by 2032, coupled with a market capitalization exceeding $9 billion, CAVA continues to establish itself as one of the premier publicly traded quick-service restaurant brands in the United States.