Listed by Marcus & Millichap - Chicago Oak Brook, Marcus & Millichap - Palo Alto
$1,960,000
Corporate Burger King
Details
APN 19-05-334-033
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 3,931
Net Rentable (SqFt) 3,931
Cap Rate 5.75%
NOI $112,673
Occupancy 100%
Tenancy Single
Brand/Tenant Burger King
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 01/30/2036
Remaining Term 9.5
Rent Bumps Yes
Lease Options 4-five years
Price per SqFt $499
Broker Co-Op Yes
Year Built 1978
Year Renovated 2018
Buildings 1
Stories 1
Acreage 0.950
Parking Spaces 47 spaces
Parking per 1,000 SqFt 11.96
Investment Type Net Lease
Lease Commencement 01/31/2016
Occupancy Date 01/31/2016
Ground Lease No
Ownership fee simple
Corporate QSR Listing
Marketing description
This freestanding Burger King restaurant is situated in the city of Crystal Springs, Illinois approximately 45 miles northwest of Chicago with a reported city population of around 40,000. Population within a 3-mile radius of the subject property is reported at 53,105 with Average Household Income of $132,359 within this same radius.
Situated adjacent to a Savers/Petco anchored shopping center, the daily car count on West Virginia Street is reported at 29,900. Crystal Lake Central High School (reported 1,498 student enrollment) is situated just 1.1 miles away.
Investment highlights
- Over 9.5 years remaining on corporate lease
- Absolute NNN lease
- 7.5% fixed rent increases every 5 years
- Established location for Burger King since 1978
- Reported strong store sales
Listing Contacts
Listed by Marcus & Millichap - Chicago Oak Brook, Marcus & Millichap - Palo Alto
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$112,673.00
$9,389.42/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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