Ashley Furniture

1500 South Randall Road, Algonquin, IL 60102

$7,073,000

Cap Rate 6.50%

Views: 20 Updated: 06.06.23 Posted: 02.25.23 Status: Sold

Summary

Price $7,073,000	Built/Renov 2006/2022	Tenant Ashley Furniture
Cap Rate 6.50%	Lease Type NN+	Guarantor Franchisee
Size/SF 48,397	Lease Start 06-18-2021	#Units 120
Price/SF $146.15	Expiration 04-30-2029	Tenant Type General Retail
NOI $459,772	R. Term 4.4	Ownership Fee Simple
Rent/SF $9.50	Increases 0.0%/6/yrs	Pop 5Mi 147,670
Lot/AC 3.26	Options 2/5yrs	AHHI 5Mi $130,142

Lease Highlights

Recent 2022 renovation
There are over 6 years remaining on the current lease with 2 (5-year) options to extend
Lease features increases of $10.50/PSF at the first option and $11.50/PSF at the second option
Favorable NN+ Lease – Limited landlord responsibilities
The Dufresne Spencer Group, LLC is a leading Ashley franchisee with over 120 Ashley locations, 20 distribution centers, 4,000+ employees, and locations in 12 states

Location Description

This newly renovated Ashley Furniture is strategically located along South Randall Road which sees 41,400 vehicles passing by daily. The building is ideally situated within Algonquin Commons, a top-performing regional power center featuring anchor tenants such as Trader Joe’s, Ulta Beauty, Ross Dress for Less, Dick’s Sporting Goods, and more. Moreover, Algonquin Commons is currently undergoing...

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Key Features

Recent renovation
Oversized lot
Major thoroughfare
Dense retail corridor
Shopping Ctr out-parcel
Dense 100M+ pop 5 mi
Affluent AHHI $100K 5 Mi
Low rent to sales ratio
Favorable NN+ lease
100+ unit franchisee backed

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Links

Ashley Furniture Wikipedia Ashley Furniture Wikipedia Algonquin, Illinois Zip Code 60102 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Ashley Furniture
Guarantor:Franchisee
Company:Dufresne Spencer Group, LLC
# Units:120
Stock:Private

About Tenant

Ashley Furniture or Ashley HomeStore is one of the largest American home furnishing retailers and one of the world’s best-selling furniture store brands . The parent company, Ashley...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	4,877	52,427	147,387
2023 Total Population :	4,955	52,526	148,405
2023 Employed Civilian Pop :	3,094	28,864	81,010
2023 Total Businesses :	300	1,395	3,992
2023 Average Household Income :	$ 151,898	$ 140,708	$ 130,922
2023 Total Consumer Spending :	$ 254 M	$ 2220 M	$ 5721 M
2023 Median Age :	38	38	36
2023 Total Households :	1,991	18,696	51,487
2023 Pop Age 25+: Bachelor's Degree :	1,090	10,266	25,522
2023 Average Home Value :	$ 306,124	$ 302,991	$ 294,709

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
Randall Rd	N County Line Rd	2013	33,900	0.09 mi
County Line Rd	N County Line Rd	2014	3,050	0.17 mi
N County Line Rd	County Line Rd	2018	6,400	0.22 mi
Millbrook Drive	Millbrook Dr	2018	3,500	0.35 mi
Randall Rd	Commerce Dr	2015	37,529	0.37 mi
Boyer Rd	Loren Ln	2014	3,450	0.44 mi
County Line Rd	Boyer Rd	2010	2,650	0.45 mi
Boyer Road	Williamsburg Dr	2018	2,250	0.46 mi
Boyer Road	Corporate Pkwy	2018	3,250	0.48 mi
County Line Rd	Stonegate Rd	2014	6,750	0.58 mi

Listing Broker

Matthew Mousavi

SRS National Net Lease Group

Contact

369 Listings
47547 Views
137 Sold

Patrick Luther

SRS National Net Lease Group

Contact

420 Listings
52091 Views
165 Sold

Matthew Mousavi

Matthew is the managing principal and co-founder of the SRS National Net Lease Group, based in Newport Beach, California. SRS’ is the exclusive net lease investment advisory platform across more than 25 offices nationally. SRS is the largest retail estate firm in North America exclusively focused on retail services, of which Matthew is a member of the board. The firm has a track record spanning over 30 years and billions in transaction volume, and represents over 400 retailers throughout the co

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Patrick Luther

Patrick joined SRS in 2016 with more than 10 years of transactional brokerage experience in the commercial real estate industry and over $1 billion in closed transactions, representing over 300 individual properties. Along with Matthew Mousavi, Patrick co-founded and leads the National Net Lease Group at SRS, the exclusive net lease capital markets platform within SRS, comprised of more than 75 professionals handling all net lease transactions for the firm nationally. He focuses on all types of

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