Listed by SURMOUNT, NAI Hiffman
$3,250,000
Wendy's
Details
Property Type Retail
Sub Type Restaurant - quick service
Square Footage 3,500
Cap Rate 5.76%
NOI $187,068
Occupancy 100%
Tenancy Single
Brand/Tenant Wendy's
Lease Type NNN
Lease Term 45
Lease Expiration 12/31/2030
Remaining Term 4.6
Rent Bumps Yes
Lease Options 2, 5-Year Options
Year Built 1985
Acreage 0.880
Tenant Credit Corporate Guarantee
Lease Commencement 03/01/1985
Ground Lease No
About This Property for Sale
Marketing description
Surmount is pleased to present the sale offering for the Wendy’s located at 11 North Harlem Avenue, Oak Park, Illinois 60302. The property consists of approximately 3,500 rentable square feet situated on an estimated 0.88-acre parcel. Wendy’s occupies the property under a Triple Net (NNN) lease structure with a current lease term extending through December 31, 2030. The lease features scheduled rental escalations of 15.00% every five years, providing investors with stable and increasing cash flow.
Investment highlights
- High Performing Corporate Store with a 6.7% Rent to Sales ratio | A high-performing corporate store generating exceptional sales volume, highlighted by a strong 6.7% Rent-to-Sales ratio. The location’s high revenue output and efficient occupancy cost structure make it a standout investment opportunity with strong underlying store economics.
- Absolute NNN Wendy’s Ground Lease with Established Operating History | The Property is secured by an absolute Triple Net (NNN) ground lease with Wendy’s, providing investors with stable passive income and zero landlord responsibilities for taxes, insurance, maintenance, or capital expenditures. The tenant has successfully operated at this location for more than 40 years and has approximately 4.6 years remaining on the current lease term, demonstrating a proven long-term operating history and continued commitment to the site.
- Strong Traffic Counts & Visibility | Located at the signalized intersection of North Harlem Avenue and Madison Street with combined traffic counts exceeding 60,000 VPD.
- Dense & Affluent Demographics | More than 701,000 residents reside within a 5-mile radius with average household incomes exceeding $94,000 annually.
- Strategically Positioned Near Chicago | The Property benefits from immediate access to Downtown Chicago, O’Hare International Airport, and Midway International Airport.
- Institutional Retail Corridor | Surrounding retailers include Target, Trader Joe’s, Whole Foods, Aldi, Walmart, Chase Bank, Walgreens, and Chipotle.
- High-Barriers-to-Entry Market | Oak Park is a mature infill suburb with limited development opportunities and strong long-term retail demand fundamentals.
- Healthcare & Education Demand Drivers | Nearby demand generators include Rush Oak Park Hospital and Fenwick High School, supporting consistent daily consumer traffic.
Listing Contacts
Listed by SURMOUNT, NAI Hiffman
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$187,068.00
$15,589.00/mo
Valuation Metrics
0
DSCR
5.76%
Cap Rate
5.76%
ROI
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