$1,309,890
IHOP Peru, Illinois
Details
APN 17-05-207-001
Property Type Retail
Sub Type Restaurant
Square Footage 3,730
Net Rentable (SqFt) 3,730
Cap Rate 7.27%
NOI $95,229
Occupancy 100%
Tenancy Single
Brand/Tenant IHOP
Lease Type Absolute NNN
Lease Term 10
Lease Expiration 10/31/2031
Remaining Term 5.4
Rent Bumps Yes
Lease Options Four (5) Year Options
Pro-Forma Cap Rate 8.00%
Pro-Forma NOI $104,752
Price per SqFt $351
Class B
Year Built 1996
Year Renovated 2017
Acreage 1.230
Zoning B2 - Community Shopping District
Parking Spaces 71 spaces
Parking Per SqFt 19.03
Investment Type Net Lease
Lease Commencement 11/01/2021
Occupancy Date 11/01/2021
Ground Lease No
Retail | 7.27% CAP | 3,730 SqFt
Marketing description
Cushman & Wakefield of California, Inc., as the exclusive advisor to the seller, is pleased to present the absolute net lease investment opportunity in the fee simple interest of an IHOP restaurant located at 4383 Venture Drive in Peru, Illinois.
The Property is subject to a ten (10) year NNN Lease that commenced in November of 2021 with ten percent (10%) rental increases every five (5) years throughout the remainder of the Primary Term and at each of the four (4) 5-year Options to Extend.
Investment highlights
- 8% Cap Rate Nov 1st, 2026
- Priced Well Below Replacement Cost
- Absolute NNN Lease — Zero Landlord Responsibilities
- Approximately 5.5 Years Remaining and four 5-Year Options to Extend
- 10% Rental Increase Nov. 1st, 2026 and Increases Every 5 Years throughout Remainder of Primary Term and Options to Extend
- Located approximately 0.12 miles from Interstate 80, which experiences traffic counts in the amount of ±25,000 vehicles per day
- The Peru Mall, which contains 72 Stores throughout its ±460,768 SF, is approximately 0.5 miles southwest of the Subject Property
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$95,229.00
$7,935.75/mo
Valuation Metrics
0
DSCR
7.27%
Cap Rate
7.27%
ROI
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