Listed by Secure Net Lease
$1,086,000
Hardee's
Details
Property Type Retail
Sub Type QSR/Fast Food, Restaurant
Square Footage 3,415
Cap Rate 7%
NOI $76,000
Occupancy 100%
Tenancy Single
Brand/Tenant Burger King, McDonald's
Lease Type Net
Lease Term 20
Lease Expiration 08/01/2042
Remaining Term 16.2
Rent Bumps Yes
Lease Options (4) 5-Year Renewal Options
Price per SqFt $318
Year Built 2005
Buildings 1
Stories 1
Acreage 0.680
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 08/01/2022
7.00% CAP | Located in Peoria County
Marketing description
- Rent Commencement: August 2022
- 17+ Yrs. Left on Recently Extended 20-Year NNN Lease, with (4) 5-Year Options to Renew and 10% Rental Increases Every 5 Years
- Subject Property is Located on N 4th Street (15,060+ VPD), right off of the Illinois River and Illinois Route 29. It is 15 miles north of Downtown Peoria, IL, 100 miles southwest of Chicago, IL, and 150 miles northeast of St. Louis, MO.
- Healthy Rent to Sales Ratio
- Property is Located 5-Miles From Caterpillar Manufacturing Plant
Investment highlights
- Rent Commencement: August 2022
- 20-Year Net Lease with (4) 5-Year Options to Renew and 10% Rental Increases Every 5 Years. The store boasts a strong rent to sales ratio of 8.63%
- Subject Property is Located on N 4th Street (15,060+ VPD), right off of the Illinois River and Illinois Route 29. It is 15 miles north of Downtown Peoria, IL, 100 miles southwest of Chicago, IL, and 150 miles northeast of St. Louis, MO.
- 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.
- Property is Located 5-Miles From Caterpillar Manufacturing Plant
- Known as the Heart of Illinois, Peoria County is at the center of a multi-county region along the Illinois River. Agriculture giants Caterpillar and Komatsu are originally based out of this region, which have been credited for bringing billions in revenue to the area.
- 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
$76,000.00
$6,333.33/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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