3431 N University St - Fast Food FOR SALE


Peoria, IL 61604
$1,999,999 USD
949-683-6662
3431 N University St, Peoria, IL for Sale
$1,999,999 USD
Fast Food - FOR SALE
1/1
null | 6.88% Cap Rate

3431 N University St
Peoria, IL 61604


HIGHLIGHTS

  • True NNN lease - ZERO LANDLORD RESPONSIBILITIES
  • 20 Year, Absolute NNN Lease With & 10% Rent Increases Every 5 Years In Primary Term Plus 4 (5 Year) Options
  • Approx. 12 Years Left On The Original Lease With 10% Rent Increases Every 5 Years in Primary Term
  • Newer Construction - Built In 2016 with drive-thru - Strong Operator Operating With A Strong Rent to Sales Ratio
  • Monthly rental payments have always been paid on time -- never late!
  • Excellent Street Frontage and is located in front of a Walmart (in the same shopping center)

OVERVIEW

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. Monthly rental payments have always been paid on time -- never late! 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

FOR SALE DETAILS

PRICE

$1,999,999 USD

PRICE/SF

$646 USD /SF

CAP RATE

6.88%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2016 NNN Hardee's Restaurant With Drive-Thru

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

1.01 AC

LAND SF

43,996 SF

ZONING

-

APN/PARCEL ID

14-29-327-026

ASK ABOUT THIS PROPERTY

Ruben KhorsandiAlliance Investment Real Estate GroupMore Info
949-683-6662

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Ruben KhorsandiAlliance Investment Real Estate GroupMore Info
949-683-6662

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.