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Fazoli's (GL)

210 Homer M Adams Parkway, Alton, IL 62002

$1,010,000

Cap Rate 6.25%

Updated: 03.26.24 Posted: 03.07.24 Status: Sold

Summary

Price $1,010,000
Built/Renov 1997
Tenant Fazoli's (GL)
Cap Rate 6.25%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 3,014
Lease Start 09-19-1997
#Units 221
Price/SF $335.10
Expiration 09-18-2027
Tenant Type Fast Casual/Rest.
NOI $63,081
R. Term 2.4
Ownership Ground Lease
Rent/SF $20.93
Increases 6.0%/3/yrs
Pop 5Mi 50,354
Lot/AC 0.95
Options 1/5yrs/6%
AHHI 5Mi $78,569

Randy Blankstein
The Boulder Group (HQ)
Contact

Lease Highlights

  • Fazolis has been operating in this location since 1997
  • The tenant has 3+ years remaining on the current lease term with 1 (5-year) option to extend
  • The lease features 6% rental escalations throughout the initial term and option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Fazoli's is strategically located on Homer M Adams Parkway, with access to 25,400 vehicles passing by daily. The property is situated on a Target outparcel and in the center of a dense retail corridor. Neighboring national tenants include The Home Depot, Kohl’s, Lowe’s, and more. Additionally, the property is adjacent to Alton Square Mall, a regional shopping destination hosting several other...

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Key Features

  • In location for years

  • Dense retail corridor

  • Near major nationals

  • Shopping Ctr out-parcel

  • Top 100 MSA

  • Long operation history

  • Absolute NNN

  • Corporate Guarantee

  • Publicly traded company

  • Over 100 Units backed

    • ...

Links

Fazoli's Wikipedia Fazoli's Wikipedia Alton, Illinois Zip Code 62002 Broker Site Page

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Fazoli's is an American fast casual restaurant chain founded in 1988. The restaurant chain specializes in Italian American cuisine. The chain is expanding across America and currently operates...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 3,651 33,352 49,592
2023 Total Population : 3,659 33,891 50,354
2023 Employed Civilian Pop : 1,744 15,870 23,049
2023 Total Businesses : 270 1,367 1,739
2023 Average Household Income : $ 60,773 $ 76,455 $ 78,569
2023 Total Consumer Spending : $ 89 M $ 1016 M $ 1514 M
2023 Median Age : 40 42 42
2023 Total Households : 1,676 15,193 22,052
2023 Pop Age 25+: Bachelor's Degree : 320 3,782 5,358
2023 Average Home Value : $ 116,293 $ 157,355 $ 162,075
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Alton Square Mall Dr Regional Dr 2011 5,900 0.07 mi
Homer M Adams Pkwy Buckmaster Ln 2011 19,500 0.19 mi
Alton Square Mall Dr Oakwood Ave 2011 4,950 0.20 mi
IL 3;IL 111 Oakwood Ave 2021 14,900 0.24 mi
Oakwood Ave Holly Hill Dr 2011 2,650 0.29 mi
Oakwood Ave Toledo Ave 2011 5,000 0.31 mi
E Elm St Maurice St 2012 3,600 0.33 mi
Buckmaster Ln Homer M Adams Pkwy 2011 6,500 0.34 mi
Martin Luther King Dr Alby St 2011 11,500 0.34 mi
East Elm Street Glover St 2019 3,750 0.35 mi

Listing Broker

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