Hardee's

3503 Northeast Adams Street, Peoria, IL 61603

$960,332

Cap Rate 6.50%

Updated: 12.19.23 Posted: 07.27.23 Status: Sold

Summary

Price $960,332	Built/Renov 1990	Tenant Hardee's
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 2,983	Lease Start 12-21-2012	#Units 270
Price/SF $321.93	Expiration 12-31-2032	Tenant Type Fast Food/QSR
NOI $62,422	R. Term 7.8	Ownership Fee Simple
Rent/SF $20.93	Increases 1.8%/1/yrs	Pop 5Mi 113,025
Lot/AC 0.79	Options 4/5yrs/1.75%	AHHI 5Mi $75,230

Lease Highlights

Hardee’s has been operating in this location for 33 years
The tenant under the lease TriStar Ventures, LLC has 9+ years remaining on their primary term with 4 (5-year) options to extend
Lease features annual rental increases of 1.75% or 1.25 times the CPI increase
Absolute NNN lease I Zero landlord responsibilities
Franchise guaranteed by LBE Holdings, LLC; River Valley Restaurants, LLC and North Star Foods, LLC, all which are wholly owned subsidiaries of Capstone Restaurant Group (270+ units)

Location Description

Hardee’s is located on a hard corner at the intersection of Northeast Adams Street and Eureka Street with access to 13,300 vehicles passing per day. The subject property is within feet of the McClugage Bridge, and it’s surrounded by a concentration of residential households placing a built-in customer base within walking distance of the site. Hardee’s is also the closest food option to the...

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Key Features

Signalized intersection
Hard corner intersection
In location for years
Strong tenant synergy
Dense 100M+ pop 5 mi
Major MSA
Absolute NNN
Annual rent increases
Subsidiary guarantee
Top franchise operator

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Links

Hardee's Wikipedia Hardee's Wikipedia Peoria, Illinois Zip Code 61603 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: TriStar Ventures, LLC.
Guarantor:Franchisee
Company:LBE Holdings, LLC
# Units:270
Stock:Private

About Tenant

Hardee's Restaurants LLC is an American fast-food restaurant chain famous for their made from scratch hand-breaded chicken tenders and biscuits. Their menu includes hand-breaded chicken...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,327	46,092	112,170
2023 Total Population :	2,378	46,425	112,951
2023 Employed Civilian Pop :	836	20,798	50,402
2023 Total Businesses :	98	2,216	4,679
2023 Average Household Income :	$ 54,333	$ 67,426	$ 70,990
2023 Total Consumer Spending :	$ 45 M	$ 1187 M	$ 3020 M
2023 Median Age :	35	38	39
2023 Total Households :	953	20,156	48,785
2023 Pop Age 25+: Bachelor's Degree :	176	5,519	14,609
2023 Average Home Value :	$ 100,634	$ 139,178	$ 148,692

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
NE Adams St	Eureka St	2003	17,400	0.03 mi
NE Adams St	Eureka St	2003	17,400	0.03 mi
NE Adams St	Eureka St	2009	18,400	0.05 mi
NE Adams St	Adams St Acc	2003	17,400	0.08 mi
Homestead Avenue	Homestead Ave	2018	16,100	0.10 mi
NE Adams St	Adams St Acc	2009	18,400	0.13 mi
Adams St Acc	NE Madison Ave	2010	2,600	0.15 mi
NE Adams St	E War Memorial Dr	2010	4,350	0.18 mi
NE Adams St	E War Memorial Dr	2010	18,400	0.18 mi
East War Memorial Drive		2019	13,950	0.19 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
25515 Views
79 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
24828 Views
76 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

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Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
25689 Views
78 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

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