Andy's Frozen Custard

2630 East Main Street, St. Charles, IL 60174

$3,100,000

Cap Rate 7.10%

$3,384,615

Cap Rate 6.50%

Views: 124 DOM: 279 Updated: 11.01.24 Posted: 01.26.24 Status: Sold 11.01.24

Summary

Price $3,100,000 $3,384,615	Built/Renov 2023	Tenant Andy's Frozen Custard
Cap Rate 7.10% 6.50%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 2,090	Lease Start 12-06-2023	#Units 149
Price/SF $1,483.25 $1,619.43	Expiration 12-31-2038	Tenant Type Fast Food/QSR
NOI $220,000	R. Term 13.11	Ownership Fee Simple
Rent/SF $105.26	Increases 8.0%/10/yrs	Pop 5Mi 107,391
Lot/AC 1.13	Options 3/5yrs/8%	AHHI 5Mi $152,558

Lease Highlights

Brand-new 2023 construction
Andy's Frozen Custard has 14 years remaining on the current lease term with 3 (5-year) option to extend
The lease features 8% rental increases every 5 years starting year 11 and throughout each option period
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed lease

Location Description

The 2,090 square-foot, newly constructed building benefits from its position along East Main Street which is the primary thoroughfare for Saint Charles and experiences over 37,250 vehicles per day. Andy’s Frozen Custard is also located on an outparcel in Foxfield Commons, a shopping center anchored by Goodwill and Urban Air Trampoline Park. East Main Street is part of the dense retail corridor...

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Key Features

New construction
Signalized intersection
Dense retail corridor
Shopping Ctr out-parcel
Top 100 MSA
Strong demographics
Brand new lease
Absolute NNN
Long 10+ yr lease
Corporate Guarantee

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Links

Andy's Frozen Custard Wikipedia Andy's Frozen Custard Wikipedia St. Charles, Illinois Zip Code 60174 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Andy's Frozen Custard
Guarantor:Corporate
Company:Andy's Frozen Custard
# Units:149
Stock:Private

About Tenant

Andy's Frozen Custard is the largest frozen custard-only chain in the United States. Andy's exclusively sells frozen custard treats in various flavors, from simple vanilla or chocolate...

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Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
E Main St	Fieldgate Dr	2009	37,100	0.06 mi
E Main St	Lakeside Dr	2014	37,251	0.09 mi
E Main St	Fieldgate Dr	2013	27,000	0.18 mi
77	E Main St	2014	24,400	0.21 mi
77	Foxfield Dr	2014	19,000	0.24 mi
Foxfield Rd	Ctyard Dr	2014	6,750	0.25 mi
Foxfield Rd	Dunham Rd	2014	6,750	0.25 mi
E Main St	Industrial Dr	2007	36,300	0.29 mi
Dunham Rd	Foxfield Rd	2014	3,700	0.32 mi
Foxfield Road	Foxfield Rd	2018	5,400	0.33 mi

Listing Broker

Randy Blankstein

The Boulder Group (HQ)

Contact

165 Listings
18899 Views
62 Sold

Jimmy Goodman

The Boulder Group (HQ)

Contact

168 Listings
19528 Views
65 Sold

Randy Blankstein

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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Jimmy Goodman

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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