8849 S Stony Island Ave - Restaurant FOR SALE


Chicago, IL 60617- Calumet Heights
$1,536,000 USD
480-221-4221
8849 S Stony Island Ave, Chicago, IL for Sale
$1,536,000 USD
Restaurant - FOR SALE
1/9
null | 6.25% Cap Rate

8849 S Stony Island Ave
Chicago, IL 60617
Calumet Heights


HIGHLIGHTS

  • 15-Year Lease Sale Leaseback | Options To Extend |Scheduled Rental Increases | Strong Operator
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Dense Residential/Retail Corridor | Frequently Traveled Area
  • Located 11 Miles From Downtown Chicago | 3rd Largest City In U.S.
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

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, PH S Stoney Island LLC, will sign a brand new 15 year lease with 3 (5-year) options to extend at close of escrow, 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.

FOR SALE DETAILS

PRICE

$1,536,000 USD

PRICE/SF

$478 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pizza Hut | New 15yr Abs NNN Leaseback

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1955

SPRINKLERS

-

PARKING SPACES

37

LAND DETAILS

LAND ACRES

0.51 AC

LAND SF

22,216 SF

ZONING

B3-2

APN/PARCEL ID

25-01-110-050-0000

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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