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Taco Bell 5224 N Northwest Hwy 2,232 SF Retail Building Chicago, IL 60630 $2,371,000 ($1,062.28/SF) 5.65% Cap Rate
INVESTMENT HIGHLIGHTS
- The property benefits from a 25-year NNN LEASE with Five, 5-Year Renewal Options
- outer urban neighborhood on Chicago’s Northwest Side, with a population of approximately 790,329 within a 5-mile radius
- 7.5% Rent Increases every Five (5) Years
- at a signalized intersection at N. Northwest Highway and W. Foster Avenue, benefitting from a combined traffic count exceeding 31,800 vehicles per day
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present a Taco Bell featuring a 2,232 SF freestanding building situated on a 0.30-acre lot in an outer urban neighborhood of Chicago. The property is secured by a brand-new 25-year triple-net lease, offering strong 7.5% rent escalations every five years and five additional 5-year renewal options.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
2,232 SF
Building Class
B
Year Built/Renovated
2015/2025
Price
$2,371,000
Price Per SF
$1,062.28
Cap Rate
5.65%
NOI
$134,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
0.30 AC
Zoning
B3-1
Parking
9 Spaces (3.94 Spaces per 1,000 SF Leased)
Frontage
81’ on N Northwest Hwy
AMENITIES
- Bus Line
- Corner Lot
- Signalized Intersection
- Drive Thru
Walk Score®
Very Walkable (89)
Transit Score®
Excellent Transit (72)
Bike Score®
Very Bikeable (78)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 13-08-407-002-0000 | Improvements Assessment | $21,351 |
| Land Assessment | $96,000 | Total Assessment | $117,351 |
PROPERTY TAXES
Parcel Number
13-08-407-002-0000
Land Assessment
$96,000
Improvements Assessment
$21,351
Total Assessment
$117,351
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Taco Bell | 5224 N Northwest Hwy
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