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Views: 136 Updated: 09.30.24 Posted: 07.23.24 Status: Inactive

Summary

Price $5,093,024
Built/Renov 1986/2017
Tenant Burger King
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 2,911
Lease Start 07-01-2012
#Units 500
Price/SF $1,749.58
Expiration 10-31-2032
Tenant Type Fast Food/QSR
NOI $305,581
R. Term 7.11
Ownership Fee Simple
Rent/SF $104.97
Increases 1.0%/1/yrs
Pop 5Mi 1,323,065
Lot/AC 0.70
Options 1/10yrs/2.5%
AHHI 5Mi $137,065

Lease Highlights

  • Burger King has 8+ years remaining on the current lease term with 1 (10-year) option period
  • The lease features 1% annual rental escalations throughout the initial term, 4.4% at the start of option 1, 2.5% at the start of each remaining option
  • Absolute NNN lease | Zero landlord responsibilities
  • Lease guaranteed by Tri-City Foods, Inc. a wholly owned subsidiary of the Dhanani Group | Over 500 Burger Kings under management

Location Description

Burger King is strategically located at the signalized, hard corner intersection of W North Avenue and N Mozart Street, with access to a combined daily traffic count of 24,100 vehicles. The property benefits from excellent visibility, frontage, and prominent signage, and is directly across the street from Humboldt Park. The immediate area boasts well-known national tenants including Walgreens,...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Burger King
  • Guarantor:Franchisee
  • Company:Tri-City Foods, Inc.
  • # Units:500
  • Tenant S&P: BB
  • Stock: NYSE: QSR

About Tenant

Burger King is the second-largest fast-food hamburger chain in the world. Their menu features their signature Whopper and Whopper Jr. hamburgers, chicken sandwiches, breakfast sandwiches,...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 65,586 458,861 1,310,836
2024 Total Population : 66,837 462,835 1,322,833
2024 Employed Civilian Pop : 45,123 281,768 790,365
2024 Total Businesses : 1,718 16,488 62,567
2024 Average Household Income : $ 149,085 $ 149,743 $ 138,255
2024 Total Consumer Spending : $ 3960 M $ 26131 M $ 73197 M
2024 Median Age : 34 34 34
2024 Total Households : 30,906 201,567 607,769
2024 Pop Age 25+: Bachelor's Degree : 19,899 115,055 316,357
2024 Average Home Value : $ 589,876 $ 613,096 $ 552,121
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N California Ave Alley 2014 9,150 0.09 mi
North California Avenue W Bloomingdale Ave 2022 10,500 0.14 mi
IL 64 N Fairfield Ave 2021 23,900 0.15 mi
N Humboldt Blvd Alley 2014 8,400 0.16 mi
North Humboldt Boulevard N Humboldt Dr 2022 13,700 0.17 mi
N California Ave Lemoyne Dr 2006 10,000 0.19 mi
North Humboldt Drive N Hoyne AveDr 2022 13,700 0.22 mi
North Richmond Street W Bloomingdale Ave 2019 1,500 0.24 mi
North Francisco Avenue W Bloomingdale Ave 2019 1,500 0.25 mi
North Mozart Street W Bloomingdale Ave 2019 1,200 0.25 mi

Listing Broker

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