Thorntons (GL)

10 East Maple Avenue, Mundelein, IL 60060

$2,336,000

Cap Rate 5.35%

Views: 111 DOM: 67 Updated: 10.15.24 Posted: 09.27.24 Status: Active

Summary

Price $2,336,000	Built/Renov 2024	Tenant Thorntons (GL)
Cap Rate 5.35%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 4,400	Lease Start 03-30-2024	#Units 215
Price/SF $530.91	Expiration 03-31-2044	Tenant Type Convenience/Gas
NOI $125,000	R. Term 19.4	Ownership Ground Lease
Rent/SF $28.41	Increases 10.0%/5/yrs	Pop 5Mi 111,158
Lot/AC 1.43	Options 6/5yrs/10%	AHHI 5Mi $171,980

Lease Highlights

Brand new 2024 construction
Thorntons has 19+ years remaining on the current ground lease term with 6 (5-year) options to extend
The lease features 10% rental increases throughout the initial term and option periods
Absolute NNN lease | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Thorntons is strategically located at the signalized, hard corner intersection of E Maple Avenue and N Lake Street, with access to a daily traffic count of 29,900 vehicles. The property features a 4,400 square foot retail building and gas station with 8 fuel pumps. Additionally, it is in close proximity to the Innovation Office Park, a facility housing prominent tenants such as Intermatic,...

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Key Features

New construction
Signalized intersection
Dense retail corridor
Near major nationals
Top 100 MSA
Strong demographics
Brand new lease
Long 15+ yr lease
Traded and rated company
Corporate Guarantee

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Links

Thorntons Wikipedia Thorntons Wikipedia Mundelein, Illinois Zip Code 60060 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Thorntons
Guarantor:Corp T and Rated
Company:BP p.l.c
# Units:215
Tenant S&P: A-
Moody’s: A2
Stock: NYSE: BP

About Tenant

Thorntons, LLC (dba Thornton’s) is a leading independent chain of gas stations and convenience stores operating across multiple southern and midwestern states. Their locations typically feature a...

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Listing Broker

Putnam Daily

Fisher James Capital

Contact

91 Listings
10594 Views
23 Sold

Lindsey Snider

Fisher James Capital

Contact

67 Listings
8244 Views
18 Sold

Putnam Daily

Putnam Daily is the Managing Partner at Fisher James Capital and provides services to private and institutional capital clients on the disposition and acquisition of leased investment properties. Putnam has extensive experience representing developers, owners, and private capital clients on the sale of single and multi-tenant commercial properties nationwide; with a focus on newly constructed retail, industrial, and medical opportunities, he has completed nearly $8 billion in transactions total

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Lindsey Snider

Lindsey Lantis Snider is a Partner at Fisher James Capital, advising institutional and private capital clients on the disposition and acquisition of leased investment properties nationwide. Lindsey has over 15 years of experience specializing in the sale of single tenant retail properties, multi-tenant shopping centers, sale-leaseback portfolio dispositions, and 1031 exchange transactions. Lindsey attended Santa Clara University and holds a Bachelor of Science from the business school with a m

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