Listed by Matthews
$4,613,823
Duluth Trading Company | 8.50% Cap | Chicago MSA
Details
Property Type Retail
Sub Type Convenience Store, QSR/Fast Food
Square Footage 14,525
Cap Rate 8.50%
NOI $392,175
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 15
Lease Expiration 08/24/2031
Remaining Term 5.5
Rent Bumps Yes
Lease Options Four, 5-Year Options
Year Built 2016
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 11/01/2016
Ground Lease No
Ownership Fee Simple
8% Rent Increase in November | Corporate Guaranty
Marketing description
Duluth Trading Company is a well-recognized American lifestyle apparel retailer known for its durable workwear, casual clothing, and functional gear designed for both men and women. The brand has cultivated a strong niche following through its emphasis on quality, practicality, and distinctive, often humorous marketing approach. With a growing omnichannel presence and a loyal customer base, Duluth Trading has positioned itself as a differentiated player within the competitive apparel retail sector, appealing to consumers seeking rugged, purpose-built clothing.
Investment highlights
- 2016 build-to-suit construction for Duluth Trading Company
- ± 5.50-Years remaining on the base term of a 15-Year lease
- Retail NNN lease structure (Landlord responsible for roof and structure only)
- Corporate guaranty from Duluth Holdings, Inc (NASDAQ: DLTH)
- Attractive 8% rent increases every 5-years (next increase November 2026)
- Affluent demographics with an average household income of more than $152,900 annually
- 5-Mile population of more than 171,320 residents
- The subject property is located adjacent to NOW Arena which hosts various concerts, sports, and other events
- Hoffman Estates is a wealthy suburb of Chicago and is located just 30-mile West of downtown
- Duluth Trading Company is a national apparel retailer that is focused on durable, functional workwear
- Publicly traded on the NASDAQ stock exchange (DLTH)
- Duluth currently operates ± 70 locations nationwide with plans to continue expansion
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$392,175.00
$32,681.25/mo
Valuation Metrics
0
DSCR
8.5%
Cap Rate
8.5%
ROI
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