Listed by Secure Net Lease
$1,157,000
Hardee's
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 3,371
Cap Rate 7%
NOI $81,000
Occupancy 100%
Tenancy Single
Brand/Tenant Burger King, McDonald's
Lease Type Net
Lease Term 22
Lease Expiration 08/01/2044
Remaining Term 18.2
Rent Bumps Yes
Lease Options (4) 5-Year Renewal Options
Price per SqFt $343
Buildings 1
Stories 1
Acreage 1.000
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/01/2022
7.00% CAP | Limited Competition
Marketing description
- Rent Commencement: August 2022
- 20-Year Net Lease with (4) 5-Year Options to Renew and 10% Rental Increases Every 5 Years
- Excellent Site-Level Visibility – Subject Property Benefits From Its Location at the Intersection of Green Street and Ludwig Street, the Two Main Thoroughfares Heading in and Out of the City of Bushnell.
- Healthy Rent to Sales Ratio
- Limited Competition – This Hardee’s Is One of Only Two National Fast-Food Restaurants in the Entire Bushnell Market.
Investment highlights
- Rent Commencement: August 2022
- 20-Year Net Lease with (4) 5-Year Options to Renew and 10% Rental Increases Every 5 Years
- Excellent Site-Level Visibility - The subject property benefits from its location at the intersection of Green Street and Ludwig Street (7k+ VPD) the two main thoroughfares heading in and out of the city of Bushnell.
- TriStar Ventures Operates 26 Units Throughout IL and IN, and generated approximately $30,000,000 in revenue in 2023.
- The Lease is Guaranteed by LBE Holdings, which includes 64 units, and had totaling $87,000,000 in 2023.
- Limited Competition - This Hardee’s is one of only two national fast-food restaurants in the entire Bushnell market.
- Illinois is the 6th Most Populous State in the Country - following California, Texas, Florida, New York, and Pennsylvania. This year, Illinois ranked in the top 10 in the nation for four categories of competitiveness, and six categories in the top 20.
- Hardee's operates over 1,800 restaurants across the U.S. and 13 other countries. They are franchised by Tristar Ventures, LLC, which is affiliated with over 100 Hardee’s restaurants, and is part of the CKE Restaurant system. The CKE Restaurant system has created a chain of 3,828 restaurants in 40 states and 10 countries, with a total revenue of over $3.8 billion.
Listing Contacts
Listed by Secure Net Lease
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$81,000.00
$6,750.00/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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