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Views: 68 DOM: 129 Updated: 10.18.24 Posted: 08.14.24 Status: Active

Summary

Price $2,722,608
Built/Renov 2018
Tenant Dairy Queen
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 3,900
Lease Start 12-01-2024
#Units 7,000
Price/SF $698.10
Expiration 11-30-2044
Tenant Type Fast Food/QSR
NOI $156,550
R. Term 19.11
Ownership Fee Simple
Rent/SF $40.14
Increases 10.0%/5/yrs
Pop 5Mi 150,035
Lot/AC 2.22
Options 4/5yrs/10%
AHHI 5Mi $100,315

Lease Highlights

  • Brand-new 20-year lease with 4 (5-year) options to extend to be executed at the close of escrow
  • The lease features 10% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Dairy Queen is strategically located at the signalized, hard-corner intersection of N Oak Trafficway and 85th Terrace, with access to a combined daily traffic count of 14,579 vehicles. The property has signage displays visible in both directions at the intersection. Additionally, it is adjacent to the #3 most-visited Price Chopper nationwide, which attracts over 1.1 million visitors annually...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Dairy Queen
  • Guarantor:Corp T and Rated
  • Company:Berkshire Hathaway, Inc.
  • # Units:7,000
  • Tenant S&P: AA
  • Moody’s: Aa2
  • Stock: NYSE: BRK.A

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
2029 Total Population : 8,160 69,291 160,696
2024 Total Population : 7,835 67,094 154,862
2024 Employed Civilian Pop : 4,320 38,347 87,074
2024 Total Businesses : 354 1,338 3,640
2024 Average Household Income : $ 83,740 $ 99,599 $ 104,041
2024 Total Consumer Spending : $ 241 M $ 2465 M $ 5900 M
2024 Median Age : 38 38 37
2024 Total Households : 3,283 28,182 64,603
2024 Pop Age 25+: Bachelor's Degree : 1,009 12,609 28,544
2024 Average Home Value : $ 294,216 $ 323,404 $ 328,136
*ESRI data is presented for informational purposes only

Listing Broker

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