2016 NNN Hardee's Restaurant With Drive-Thru | 3431 N University St
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2016 NNN Hardee's Restaurant With Drive-Thru 3431 N University St
3,097 SF Retail Building Peoria, IL 61604 $2,249,000 ($726/SF) 6.11% Cap Rate
Investment Highlights
- True NNN lease - ZERO LANDLORD RESPONSIBILITIES
- Approx. 12 Years Left On The Original Lease With 10% Rent Increases Every 5 Years in Primary Term
- Strong Operator Operating over 64 Locations With A Strong Rent to Sales Ratio
- 20 Year, Absolute NNN Lease With & 10% Rent Increases Every 5 Years In Primary Term Plus 4 (5 Year) Options
- Newer Construction - Built In 2016 with drive-thru
- Excellent Street Frontage and is located in front of a Walmart (in the same shopping center)
Executive Summary
GREAT LOCATION ---- TRUE NNN INVESTMENT -- NO LANDLORD RESPONSIBILITIES -- TENANT PAYS FOR EVERYTHING!!
10% Rent Increases Every 5 Years In Primary Term Plus 4 (5 Year) Options
Newer Construction Asset with drive-thru! Property was built in 2016 with approximately 12 years left on the original lease (March 2036 - this does not include extensions). Lease is Guaranteed by LBE Holdings, Which Includes 64 Units, and had Totaling $87,000,000 in 2023. Excellent Street Frontage and is located in front of a Walmart (in the same shopping center) with a strong rent to sales ratio. The lease is a true NNN lease with ZERO landlord responsibilities with a 10% rental increase every 5 years in the primary term & in the options. The population of Peoria is approximately 110,000 people.
Agent / Broker of Record takes no responsibility for the accuracy of this information. All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.
NO OFFERS WILL BE CONSIDERED OR ACCEPTED BEFORE CALLING US FIRST TO DISCUSS AT - 949-250-0400
Illinois Broker of Record: Jeff Graves License # 471.005780
10% Rent Increases Every 5 Years In Primary Term Plus 4 (5 Year) Options
Newer Construction Asset with drive-thru! Property was built in 2016 with approximately 12 years left on the original lease (March 2036 - this does not include extensions). Lease is Guaranteed by LBE Holdings, Which Includes 64 Units, and had Totaling $87,000,000 in 2023. Excellent Street Frontage and is located in front of a Walmart (in the same shopping center) with a strong rent to sales ratio. The lease is a true NNN lease with ZERO landlord responsibilities with a 10% rental increase every 5 years in the primary term & in the options. The population of Peoria is approximately 110,000 people.
Agent / Broker of Record takes no responsibility for the accuracy of this information. All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence.
NO OFFERS WILL BE CONSIDERED OR ACCEPTED BEFORE CALLING US FIRST TO DISCUSS AT - 949-250-0400
Illinois Broker of Record: Jeff Graves License # 471.005780
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$137,500
|
$44.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$137,500
|
$44.40
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $137,500 |
| Annual Per SF | $44.40 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $137,500 |
| Annual Per SF | $44.40 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,097 SF
Year Built
2016
Price
$2,249,000
Price Per SF
$726
Cap Rate
6.11%
NOI
$137,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Land Acres
1.01 AC
Parking
20 Spaces (8 Spaces per 1,000 SF Leased)
Amenities
- Restaurant
- Signage
- Signalized Intersection
- Drive Thru
- Accent Lighting
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 14-29-327-026 | Improvements Assessment | $177,680 (2023) |
| Land Assessment | $147,130 (2023) | Total Assessment | $324,810 (2023) |
PROPERTY TAXES
Parcel Number
14-29-327-026
Land Assessment
$147,130 (2023)
Improvements Assessment
$177,680 (2023)
Total Assessment
$324,810 (2023)
-
Ruben Khorsandi -
Daniel Khorsandi -
Alliance Investment Real Estate Group
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2016 NNN Hardee's Restaurant With Drive-Thru | 3431 N University St
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