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IHOP and Teriyaki Madness 948 E Dundee Rd 4,336 SF 100% Leased Retail Building Palatine, IL 60074 $2,367,307 ($545.97/SF) 6.35% Cap Rate
Investment Highlights
- Attractive 3% Annual Rent Increases
- Global Tenant Founded in 1958
- High-Visibility Retail Corridor | Strong Traffic Counts
- Complementary Daypart Synergy | IHOP & Teriyaki Madness
Executive Summary
Surmount is pleased to present the exclusive listing for an IHOP and Teriyaki Madness located at 948 Dundee Road, Palatine, IL 60074. The property consists of approximately 4,336 rentable square feet situated on an estimated 0.51-acre parcel and is leased to two nationally recognized quick-service concepts, IHOP and Teriyaki Madness. The current annual rent is $150,324 and IHOP is secured by a 20-year Triple Net (NNN) lease with 10% rental increases every five years while Teriyaki Madness operates under a 10-year NNN lease featuring annual 3% rent escalations.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,336 SF
Building Class
B
Year Built
2021
Price
$2,367,307
Price Per SF
$545.97
Cap Rate
6.35%
NOI
$150,324
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
0.51 AC
Opportunity Zone
Yes
Zoning
Commercial
Frontage
74’ on East Dundee Road
Amenities
- Pylon Sign
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 02-01-300-029-0000 | Improvements Assessment | $115,558 |
| Land Assessment | $72,173 | Total Assessment | $187,731 |
Property Taxes
Parcel Number
02-01-300-029-0000
Land Assessment
$72,173
Improvements Assessment
$115,558
Total Assessment
$187,731
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IHOP and Teriyaki Madness | 948 E Dundee Rd
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