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Views: 93 DOM: 305 Updated: 09.05.24 Posted: 11.07.23 Status: Active

Summary

Price $2,319,000
Built/Renov 2016
Tenant Dairy Queen
Cap Rate 5.52%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 3,147
Lease Start 12-21-2021
#Units 30
Price/SF $736.89
Expiration 12-31-2039
Tenant Type Fast Food/QSR
NOI $128,000
R. Term 15.3
Ownership Fee Simple
Rent/SF $40.67
Increases 9.0%/2/yrs
Pop 5Mi 57,053
Lot/AC 0.82
Options 4/5yrs/9%
AHHI 5Mi $77,038

Lease Highlights

  • Dairy Queen has over 15 years remaining on its current lease term with 4 (5-year) options to extend
  • Lease features a 9% rent increase in the first option period, a 7% rent increase in the 2nd option period, and a 6% rent increase in the third option period
  • Absolute NNN lease | Zero landlord responsibilities

Location Description

Dairy Queen is strategically located at the signalized, hard corner intersection of Charity Street and Veterans Memorial Drive seeing over 27,000 vehicles per day. The site is directly across from a Lowe’s anchored shopping center further increasing consumer draw to the area. Additional national/credit tenants in the area include Walmart Supercenter, Dollar Tree, Walgreens, Anytime Fitness,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Dairy Queen is an American chain of soft serve ice cream and fast-food restaurants. Dairy Queen opened its first store in 1940 in Joliet, IL and was considered a fixture of social life in small...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 3,082 14,998 22,563
2023 Total Population : 3,128 15,221 22,907
2023 Employed Civilian Pop : 1,442 6,520 10,363
2023 Total Businesses : 279 865 1,053
2023 Average Household Income : $ 55,471 $ 63,318 $ 69,669
2023 Total Consumer Spending : $ 61 M $ 346 M $ 560 M
2023 Median Age : 36 37 38
2023 Total Households : 1,270 6,188 9,091
2023 Pop Age 25+: Bachelor's Degree : 169 1,262 2,173
2023 Average Home Value : $ 139,148 $ 159,342 $ 174,899
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
LA 14 Bus Ardly Dr 2021 4,950 0.01 mi
Charity St Bobbie St 2011 7,950 0.33 mi
LA 338 Acadian Dr 2021 5,832 0.66 mi
Charity St N Airport Rd 2011 18,373 0.70 mi
LA0338 Wabash Ave 2020 5,690 0.70 mi
LA 14 Tabor St 2021 17,255 0.72 mi
LA 14 N Airport Rd 2021 12,059 0.76 mi
LA0338 E Villien Ave 2020 2,404 0.88 mi
LA 338 Marcia Ave 2021 4,025 0.94 mi
LA 3267 S Hospital Dr 2021 3,084 1.17 mi

Listing Broker

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