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29313884
26317382

1410 US-41, Schererville, IN 46375

MM
IL IL 475.189943
JLL Chicago | Americas Headquarters
Listed by JLL Chicago | Americas Headquarters
$3,090,000
296 days on market
Updated 42 days ago

Red Robin - Schererville, IN

Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 6,350
Net Rentable (SqFt) 6,350
Cap Rate 7.00%
NOI $216,000
Occupancy 100%
Tenancy Single
Brand/Tenant Red Robin
Lease Type NNN
Lease Expiration 12/31/2030
Remaining Term 4.6
Rent Bumps Yes
Lease Options 3 X 5-Year Options
Price per SqFt $487
Year Built 2005
Acreage 1.790
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ownership Fee Simple

Red Robin | Chicago MSA | Outparcel to #1 Home Depot in IN | 7.00% Cap | Exceptional Retail Corridor

Marketing description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the Red Robin located at 1410 US Highway 41, Schererville, Indiana (“Property” or “Asset”). Red Robin is operating on an NNN lease with minimal landlord responsibilities, ±5.6 years of lease term remaining, and three, five-year options.

The Property is located in Schererville, IN in close proximity to the downtown area. The Property, is strategically located to establish a premier dining location in a thriving retail hub. Surrounded by a residential corridor, the Asset is Ideally positioned near the intersection of Indianapolis Road and W US-30 (W Lincoln Highway), which benefits from high daily traffic counts averaging more than 41,000 vehicles per day.

The Property is positioned across the street from the to Crossroads Shopping Center, anchored by Walmart and Strack & Van Til. It is also very close #1 Menards and Home Depot all over Indiana and the Shoppes at Crossroads Shopping center generates 4.3 million visits annually and ranks in the top 5% of most visited shopping centers in IN (Placer.ai).

Located close to Schererville’s downtown area, the property is surrounded by shopping centers and residential properties and being located at the intersection of major state highway, the Asset captures both local and cross-state traffic. Additionally, the national tenancy in the retail node includes Walmart, Menards, The Home Depot, AMC Theatres, Strack & Van Til, and ALDI, among others.

Red Robin (NASDAQ: RRGB) is a casual dining restaurant chain with 500+ locations across North America and $1.2 billion in 2024 sales. The Property is occupied by a wholly owned subsidiary, Red Robin International Inc., which implies it is a Corporate Guaranty.

This unique opportunity allows investors the ability to acquire a passive income stream from a nationally recognized casual-dining operator with high value intrinsic real estate.

Investment highlights

• Publicly-traded company with $1.2B in 2024 corporate revenue

• ±5.6 Years of lease term remaining

• Corporate Guaranty (Wholly Owned Subsidiary)

• NNN Lease with minimal landlord responsibilities

• Proximate to #1 Menards and Home Depot in Indiana

• Near Crossroads Shopping Center anchored by Walmart and Strack & Van Til.

• $125K Average household income within a 3-mile radius

• $3.3M Red Robin average unit volume

• Schererville is ranked 6th among 65 Northwest Indiana Communities

• Close to the intersection of Indianapolis Blvd and US-30 with direct access to an average of 41,800 VPD

Listing Contacts

MM
IL IL 475.189943
JLL Chicago | Americas Headquarters
Listed by JLL Chicago | Americas Headquarters

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$216,000.00
$18,000.00/mo

Valuation Metrics

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DSCR
6.99%
Cap Rate
6.99%
ROI

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