Hardee's

401 West Dearborn Street, Havana, IL 62644

$1,043,998

Cap Rate 7.00%

Views: 101 Updated: 11.22.23 Posted: 07.27.23 Status: Inactive

Summary

Price $1,043,998	Built/Renov 1986/2011	Tenant Hardee's
Cap Rate 7.00%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,164	Lease Start 12-21-2012	#Units 270
Price/SF $250.72	Expiration 12-31-2032	Tenant Type Fast Food/QSR
NOI $73,080	R. Term 8.1	Ownership Fee Simple
Rent/SF $17.55	Increases 1.8%/1/yrs	Pop 5Mi 4,261
Lot/AC 1.37	Options 4/5yrs/1.75%	AHHI 5Mi $68,430

Lease Highlights

Hardee’s has been operating in this location for 37 years
Tenant has over 9 years remaining on the current lease term with 4 (5-year) options to extend
Lease features a 1.75% annual rental increase throughout the initial term and each option
Absolute NNN | Zero landlord responsibilities
Franchisee guaranteed by LBE Holdings, LLC; River Valley Restaurants, LLC and North Star Foods, LLC, all which are wholly owned subsidiaries of Capstone Restaurant Group (270+ units)

Location Description

This 4,164 square foot Hardee’s is situated on a 1.37 acre parcel at the hard corner intersection of West Dearborn Street and South Shrader Street with access to 11,250 vehicles per day. The site is positioned just off the Scott W. Lucas Memorial Bridge – the only route to cross the Illinois River for over 30 miles north and south of the site. The tenant is immediately across from Havana Super...

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Key Features

Hard corner intersection
In location for years
Near major nationals
Strategically located
Highway location
Long operation history
Absolute NNN
Annual rent increases
Subsidiary guarantee
Top franchise operator

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Links

Hardee's Wikipedia Hardee's Wikipedia Havana, Illinois Zip Code 62644 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Hardee's
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...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	2,362	3,501	4,066
2023 Total Population :	2,452	3,633	4,220
2023 Employed Civilian Pop :	1,119	1,618	1,869
2023 Total Businesses :	199	242	249
2023 Average Household Income :	$ 64,358	$ 69,777	$ 72,191
2023 Total Consumer Spending :	$ 62 M	$ 98 M	$ 119 M
2023 Median Age :	45	47	47
2023 Total Households :	1,091	1,598	1,875
2023 Pop Age 25+: Bachelor's Degree :	221	372	441
2023 Average Home Value :	$ 98,611	$ 104,848	$ 110,717

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
US 136;IL 97	S Water St	2021	6,750	0.03 mi
W Dearborn St	S Schrader St	2005	7,900	0.05 mi
W Dearborn St	136	2005	5,700	0.06 mi
W Dearborn St	S Orange St	2005	7,900	0.09 mi
S Water St	W A St	2005	4,750	0.12 mi
W Dearborn St	S Orange St	2005	9,600	0.13 mi
IL 78	W A St	2021	3,350	0.14 mi
10th St	W A St	2001	200	0.22 mi
10th St	W A St	2001	300	0.24 mi
W Dearborn St	S Plum St	2005	9,600	0.24 mi

Listing Broker

Chris Bosworth

CBRE: NLPG Atlanta

Contact

133 Listings
15524 Views
62 Sold

Brian Pfohl

CBRE: NLPG Atlanta

Contact

132 Listings
15702 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

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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

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Thomas Carr

CBRE: NLPG Atlanta

Contact

135 Listings
15682 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

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