K1 Speed Mokena
NNN INVESTMENT | 7.0% GOING-IN CAP RATE | 74,800 SF
Marketing description
This investment offers a long-term, passive income stream through an NNN lease with over 17 years remaining, providing management-free cash flow through 2042. The property features 3% annual rent increases, growing NOI by roughly 60% over the lease term, alongside a 7.01% cap rate that averages 8.97% over time. Backed by an $8 million tenant investment and a corporate guaranty from K1 Speed Inc., the asset benefits from high barriers to entry and strong tenant commitment. Located in the Chicago MSA with prime I-80 visibility, this experiential destination drives consistent traffic and broad consumer appeal. Great Bonus Depreciation Opportunity.
Investment highlights
K1 Speed is a leading operator in the rapidly growing location-based entertainment sector, delivering high-traffic, destination-oriented experiences across a national footprint.
- One of three K1 Speed locations servicing the greater Chicago metropolitan area
- NNN lease with 3.0% annual increases averaging a 9.0% cap rate over the term
- $8 Million invested in this location including ~$3M Tenant Improvement and ~$5 million in track, karts, chargers & FF&E
- Experiential concept driving repeat visitation, long dwell times, and broad demographic appeal
- Significant capital investment makes relocation economically impractical, reinforcing long-term occupancy
- National platform with continued expansion, backed by corporate guaranty from K1 Speed Inc.
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