Listed by SURMOUNT
$1,058,142
Checkers
Details
Property Type Retail
Sub Type QSR/Fast Food
Square Footage 1,900
Cap Rate 7%
NOI $74,070
Occupancy 100%
Tenancy Single
Brand/Tenant Checkers
Lease Type NNN
Lease Term 15.1
Lease Expiration 04/30/2029
Remaining Term 2.8
Price per SqFt $557
Year Built 1966
Acreage 0.350
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 04/07/2014
Ownership Ground Lease
Retail | 7.00% CAP | 1,900 SqFt
Marketing description
Surmount is pleased to present the exclusive listing for a Checkers located at 6705 South Halsted Street, Chicago, IL 60621. The site consists of roughly 1,900 rentable square feet of building space on an estimated .35-acre parcel of land. Checkers is subject to a 15-year ground (NNN) lease, which commenced 04/7/2014. The current annual rent is $74,070 and has scheduled increases of 10.00% Every 5 Years.
Investment highlights
- 15-Year Triple Net Lease | Checkers operates on a 15-year NNN lease commenced April 7, 2014 providing passive income with limited landlord responsibilities.
- Scheduled Rent Increases | The lease features 10% rental increases every five years providing built-in income growth throughout the lease term.
- National QSR Brand | Checkers is a well-known quick-service restaurant brand with hundreds of locations nationwide.
- Drive - Thru Restaurant Format | The drive-thru focused concept supports strong operational efficiency and consistent daily customer traffic.
Listing Contacts
Listed by SURMOUNT
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$74,070.00
$6,172.50/mo
Valuation Metrics
0
DSCR
7%
Cap Rate
7%
ROI
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