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Arby's 15765 S Harlem Ave 2,321 SF Retail Building Orland Park, IL 60462 $1,398,000 ($602.33/SF) 5.90% Cap Rate
Investment Highlights
- Just under 10 years remaining on absolute NNN lease
- Pad building to a Meijer Grocery anchored shopping center
- Operated by an experienced franchisee
- 10% fixed rent increases every 5 years
- Located in high traffic area
Executive Summary
This Arby's has over 9 years remaining on absolute NNN lease that calls for 10% fixed rent increases every 5 years. Situated as a pad site to a +/-122,900 sq. ft. Meijer grocery store anchored center, other national retailers in this center are Chili's, Panda Express, White Castle and AutoZone.
Orland Park is a village located in Cook County, Illinois situated 25 miles southwest of downtown Chicago. With a city population exceeding 60,000, Orland Park reflects signs of affluence and sophistication. The Average Household Income within a 3-mile radius of this Arby's is reported at $117,122.
Orland Park is a village located in Cook County, Illinois situated 25 miles southwest of downtown Chicago. With a city population exceeding 60,000, Orland Park reflects signs of affluence and sophistication. The Average Household Income within a 3-mile radius of this Arby's is reported at $117,122.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,321 SF
Building Class
C
Year Built/Renovated
1995/2020
Price
$1,398,000
Price Per SF
$602.33
Cap Rate
5.90%
NOI
$82,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.08
Lot Size
0.67 AC
Parking
28 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
149’ on S Harlem
Amenities
- Drive Thru
- Monument Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 28-18-300-016-0000 | Improvements Assessment | $130,805 |
| Land Assessment | $55,405 | Total Assessment | $186,210 |
Property Taxes
Parcel Number
28-18-300-016-0000
Land Assessment
$55,405
Improvements Assessment
$130,805
Total Assessment
$186,210
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Arby's | 15765 S Harlem Ave
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