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Pizza Hut | New 15yr Abs NNN Leaseback 8849 S Stony Island Ave 2,600 SF Retail Building Chicago, IL 60617 $1,536,000 ($590.77/SF) 6.25% Cap Rate
INVESTMENT HIGHLIGHTS
- 15-Year Lease Sale Leaseback | Options To Extend |Scheduled Rental Increases | Strong Operator
- Dense Residential/Retail Corridor | Frequently Traveled Area
- Strong Demographics In 5-Mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Located 11 Miles From Downtown Chicago | 3rd Largest City In U.S.
EXECUTIVE SUMMARY
SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Pizza Hut investment property located in Chicago, Illinois. The tenant, PH S Stoney Island LLC, will sign a brand new 15 year lease with 3 (5-year) options to extend at close of escrow, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and
at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,600 SF
Building Class
C
Year Built
1955
Price
$1,536,000
Price Per SF
$590.77
Cap Rate
6.25%
NOI
$96,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.12
Lot Size
0.51 AC
Zoning
B3-2 - Community Shopping District
Parking
37 Spaces (14.23 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Pylon Sign
- Restaurant
- Signage
- Signalized Intersection
Walk Score®
Very Walkable (85)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 25-01-110-050-0000 | Improvements Assessment | $96,270 |
| Land Assessment | $55,730 | Total Assessment | $152,000 |
PROPERTY TAXES
Parcel Number
25-01-110-050-0000
Land Assessment
$55,730
Improvements Assessment
$96,270
Total Assessment
$152,000
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Pizza Hut | New 15yr Abs NNN Leaseback | 8849 S Stony Island Ave
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