About This Restaurant
Investment Highlights
Recently Signed 15-Year Lease | Options To Extend |Scheduled Rental Increases Dense Residential/Retail Corridor | Frequently Traveled Area Strong Demographics In 5-Mile Trade Area Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities Located 11 Miles From Downtown Chicago | 3rd Largest City In U.S.
Executive Summary
SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Pizza Hut investment property located in Chicago, Illinois. The tenant, EYM Pizza of Illinois, LLC (47-unit operator) recently signed a brand new 15 year lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
Property Details
- Sale Type Investment NNN
- Property Type Retail
- Property Subtype Restaurant Restaurant General Retail Freestanding Restaurant
- Building Size 2,600
- Building Class C
- Year Built 1955
- Price 1,210,000
- Price Per SF 465
- Cap Rate 6.50
- NOI 78,600
- Tenancy Single
- Building Height 1 Story
- Building FAR 0.12
- Land Acres 0.51 AC
Property Taxes
| Parcel Number | 25-01-110-050-0000 | Improvements Assessment | $50,157 |
| Land Assessment | $20,495 | Total Assessment | $70,652 |
| Date Created: | 2024-07-16 04:13:38 | Last Updated: | 2024-07-16 04:13:38 |
| Address: | 8849 S Stony Island Ave , Chicago, Illinois, 60617 | ||