Hardee's

507 West Center Street, Eureka, IL 61530

$905,062

Cap Rate 7.00%

Views: 92 Updated: 11.22.23 Posted: 07.22.23 Status: Inactive

Summary

Price $905,062	Built/Renov 1987/2011	Tenant Hardee's
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,209	Lease Start 12-21-2012	#Units 270
Price/SF $215.03	Expiration 12-31-2032	Tenant Type Fast Food/QSR
NOI $63,354	R. Term 8.1	Ownership Fee Simple
Rent/SF $15.05	Increases 1.8%/1/yrs	Pop 5Mi 6,879
Lot/AC 1.25	Options 4/5yrs/1.75%	AHHI 5Mi $98,049

Lease Highlights

Hardee’s has been operating in this location for 36 years
The tenant under the lease TriStar Ventures, LLC has 9+ years remaining on their primary term with 4 (5-year) options to extend
Lease features annual rental increases of 1.75% or 1.25 times the CPI increase
Absolute NNN lease I Zero landlord responsibilities
Franchise guaranteed by LBE Holdings, LLC; River Valley Restaurants, LLC and North Star Foods, LLC, all of which are wholly owned subsidiaries of Capstone Restaurant Group (270+ units)

Location Description

This 4,209 square foot Hardee’s is strategically located along West Center Street with access to 7,300 vehicles per day. The site is immediately adjacent to CVS and across from Kirby Foods and State Farm Insurance. Additional retailers in the immediate vicinity include Dollar General, Eureka Community Bank, Heartland Bank & Trust Company, Subway, Pizza Hut and more. The 5-mile trade area is...

...

Key Features

In location for years
Near major nationals
Highway location
Strong tenant synergy
Affluent suburb location
Major MSA
Absolute NNN
Annual rent increases
Personal guarantee
Top franchise operator

...

Links

Hardee's Wikipedia Hardee's Wikipedia Eureka, Illinois Zip Code 61530 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: TriStar Ventures, LLC
Guarantor:Franchisee
Company:LBE Holdings, LLC
# Units:270
Stock:Private

About Tenant

Hardee's Restaurants LLC is an American fast-food restaurant chain famous for their made from scratch hand-breaded chicken tenders and biscuits. Their menu includes hand-breaded chicken...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	3,476	5,934	6,693
2023 Total Population :	3,564	6,013	6,781
2023 Employed Civilian Pop :	1,514	2,801	3,203
2023 Total Businesses :	162	229	259
2023 Average Household Income :	$ 75,344	$ 88,658	$ 90,983
2023 Total Consumer Spending :	$ 91 M	$ 175 M	$ 201 M
2023 Median Age :	41	38	38
2023 Total Households :	1,392	2,295	2,558
2023 Pop Age 25+: Bachelor's Degree :	587	990	1,124
2023 Average Home Value :	$ 154,701	$ 168,276	$ 174,740

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
US 24	N Meek St	2021	7,500	0.04 mi
W Center St	N Walnut St	2005	9,300	0.15 mi
W Center St	S Myers St	2005	9,300	0.16 mi
W Center St	N Callender St	2009	10,000	0.21 mi
US 24	N Callender St	2021	8,000	0.24 mi
IL 117	E Center St	2021	4,150	0.30 mi
IL 117	W Eureka St	2021	6,750	0.30 mi
N Main St	E Ct St	2009	5,100	0.31 mi
IL 117	E Cruger St	2021	6,900	0.32 mi
US 24	PkwyDr	2021	6,800	0.32 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
15605 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
15775 Views
60 Sold

Chris Bosworth

Chris Bosworth is a Vice Chairman and Managing Director of the CBRE Net Lease Property Group and Corporate Capital Markets practice. Mr. Bosworth’s focus is to advise institutions, private equity firms, REITs, developers and corporate users regarding all facets of net-leased properties. In his career, Mr. Bosworth and his partners, Will Pike and Brian Pfohl, have been responsible for the disposition of 3,900 transactions valued in excess of $29 billion. Mr. Bosworth and Mr. Pike co-head the

...

Brian Pfohl

Brian Pfohl is an Executive Vice President with CBRE’s Net Lease Property and Corporate Capital Markets practice groups. Mr. Pfohl’s singular focus is to advise corporate users, institutions, private equity firms, REITs, developers, and private individuals regarding all facets of net-leased properties. Mr. Pfohl’s expertise stems from the myriad of sale-leaseback transactions, net lease investment sales, programmatic portfolio dispositions, and advisement assignments he has completed throughout

...

Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
15761 Views
63 Sold

Thomas Carr

Thomas Carr is an Senior Investment Sales Analyst with CBRE’s Net Lease Property Group. As a member of the team led by Chris Bosworth and Will Pike, Mr. Carr plays an integral role in all aspects of the group’s property valuation, underwriting, and marketing efforts. He is also actively involved in marketing the team’s disposition assignments, specializing in single-tenant assets, national net-lease portfolios, and corporate sale-leasebacks, as well as advising 1031 exchange buyers. Mr. Carr

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT