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Views: 81 DOM: 223 Updated: 01.29.24 Posted: 06.02.23 Status: Sold 01.12.24

Summary

Price $2,025,000 $2,996,025
Built/Renov 2000
Tenant Buca di Beppo
Cap Rate 11.84% 8.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 8,068
Lease Start 01-01-2023
#Units 80
Price/SF $250.99 $371.35
Expiration 02-28-2038
Tenant Type Casual Dining
NOI $239,682
R. Term 13.1
Ownership Fee Simple
Rent/SF $29.71
Increases 1.5%/1/yrs
Pop 5Mi 165,083
Lot/AC 0.76
Options 4/5yrs/2%
AHHI 5Mi $132,600

Lease Highlights

  • The tenant has operated at this location since 2005 and recently extended their lease for 15 years
  • The lease features 1.5% annual rental escalations in the first three years and 2% rental escalations every year thereafter
  • Triple net lease presents zero landlord responsibilities
  • Corporately guaranteed lease

Location Description

The 8,068 square foot building is strategically located as an outparcel to the popular Orland Park Place mall. Retailers in the surrounding area include Walmart, Meijer, Hobby Lobby, Best Buy, Whole Foods Market, Petco, and many others. The Buca di Beppo property is also adjacent to Orland Square, an even larger shopping mall that brings additional traffic to the area. Featuring more than...

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Maps

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Tenant

  • Tenant: Buca di Beppo
  • Guarantor:Corporate
  • Company:Earl Enterprises
  • # Units:80
  • Stock:Private

About Tenant

Buca di Beppo is an Italian-American restaurant chain that was founded in 1993 in Minneapolis, Minnesota. It is currently owned by Planet Hollywood and Earl Enterprises. The restaurant is known...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 8,988 73,604 161,632
2023 Total Population : 9,257 74,932 164,629
2023 Employed Civilian Pop : 4,516 39,959 86,653
2023 Total Businesses : 877 2,637 6,021
2023 Average Household Income : $ 87,793 $ 123,284 $ 125,474
2023 Total Consumer Spending : $ 290 M $ 3013 M $ 6792 M
2023 Median Age : 42 44 45
2023 Total Households : 3,901 28,958 64,115
2023 Pop Age 25+: Bachelor's Degree : 1,482 15,046 31,844
2023 Average Home Value : $ 286,742 $ 332,686 $ 340,846
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
94th Ave 151st St 2014 14,500 0.13 mi
Wheeler Dr Lowe's Ave 2011 1,070 0.16 mi
Wheeler Dr Westminster Dr 2011 3,240 0.18 mi
US 45 156th St 2021 41,600 0.26 mi
94th Ave 156th St 2011 15,050 0.30 mi
South 94th Avenue W 151st St 2018 16,500 0.37 mi
Ravinia Ave 153rd St 2018 6,200 0.39 mi
151st St 96th Ave 2018 15,200 0.39 mi
153rd St Treetop Dr 2010 13,300 0.52 mi
151st St el Cameno Ter 2014 9,050 0.61 mi

Listing Broker

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Jimmy Goodman

The Boulder Group (HQ)

Contact
  • 168 Listings
  • 19210 Views
  • 65 Sold
Randy Blankstein

The Boulder Group (HQ)

Contact
  • 165 Listings
  • 18597 Views
  • 62 Sold

Goodman is a partner at The Boulder Group, with over 15 years of experience in the investment real estate sector. His career began at PricewaterhouseCoopers in 2001 and afterward, he has been solely focused on investment real estate. He has been featured in multiple publications including Globe Street, Commercial Property Executive, Real Estate Forum and was a featured speaker at Real Share’s Net Lease Conference. He is a member of the International Council of Shopping Centers and received a Ba

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President of The Boulder Group, Blankstein is a senior commercial real estate executive with over 30 years of experience focused on advisory services in the single tenant net lease sector. Led The Boulder Group to a top 10 company national ranking for single tenant retail transactions by both CoStar and Real Capital Analytics from 2010-2021. Founded and managed net leased companies on both the advisory and principal sides that have been involved in over $7 billion in single tenant transaction

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