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Hardee's 401 E Sangamon Ave 2,564 SF Retail Building Petersburg, IL 62675 $830,100 ($323.75/SF) 6.98% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Triple Net (NNN) Lease: True NNN structure requiring no landlord responsibilities; tenant is solely responsible for all maintenance
- Long-Term Lease with Rent Growth: Original 20-year lease term with ±11 years remaining, expiring December 31, 2036.
- Attractive 1031 Exchange Opportunity: Ideal for investors seeking a low-management, income-generating asset suitable for small-balance 1031 exchanges
- Strong Franchisee Guarantee: Lease guaranteed by StarCorp, LLC—one of the largest Hardee’s franchisees in the U.S.—operating approximately 150 units
- Below-Market Rent: Current rent of $57,941 annually (approximately $22.60 per square foot) is significantly below market for comparable QSR drive-thru
EXECUTIVE SUMMARY
Matthew M. Fitzgerald
License # 478027547 (IL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
PROPERTY FACTS
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Accommodation and Food Services
- -
- -
- Dec 2037
For over 60 years, Hardee's has brought communities together with quality, delicious food. With restaurants across the U.S., and locations in global countries, Hardee's is committed to the best tasting food to better serve their guests. From Made From Scratch™ Biscuits and Hand-Breaded Chicken Tenders™. Hardee's has been known for more than 40 years for their Made From Scratch™ Biscuits. Hardee's designated Biscuit Makers rise before the sun, and start their mornings at 4 a.m., hand-making each batch of biscuits from scratch every 15 minutes for biscuit clouds of flaky, buttery goodness.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Accommodation and Food Services | - | - | Dec 2037 |
PROPERTY TAXES
| Parcel Number | 11-13-104-007 | Improvements Assessment | $177,371 |
| Land Assessment | $59,085 | Total Assessment | $236,456 |
PROPERTY TAXES
Presented by
Hardee's | 401 E Sangamon Ave
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