Skip to main content

Restaurant

Hooters

205 W Day Rd, Mishawaka, IN 46545

Listing Price: $3,407,000

Cap Rate
5.00%
Tenant Name
Hooters
Years Remaining On Lease
13.6
Gross SF
4,714
Guarantor
Corporate Guarantee
Rentable SF
4,714
Price/Gross SF
$722.74
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.14

Investment Overview

Hooters was founded in 1983 in Clearwater, Florida, and has since expanded globally to more than 420 locations in 42 U.S. states and 29 countries. In 2020, Hooters saw total sales of over $841 million, with 2.7 percent sales growth and 2.2 percent unit growth across the year. Mishawaka is located on the St. Joseph River in northern Indiana, adjacent to the city of South Bend. Mishawaka, known as “the Princess City,” is a growing commercial city home to a growing population, major business expansion, and record-breaking new construction. The city is home to Bethel College, AM General’s Hummer Plant, multiple city parks, and the second-largest retail corridor in the state. As of 2019, Mishawaka’s estimated population was over 50,300 people.

Investment Highlights

  • 13 Years Remaining on Absolute Triple-Net (NNN) Lease
  • 8.5 Percent Rental Increases Occurring Every Five Years
  • 167,599 Residents within a Five-Mile Radius in Growing Trade Area - South Bend MSA
  • Located in the Largest Retail Corridor in Northern Indiana - Surrounding Retail Tenants Include Walmart, Sam's Club, Target, Lowe's, Meijer, Hobby Lobby, Chick-fil-A, Chipotle, The Home Depot, Target, and More
  • Four Miles East of the University of Notre Dame (12,700+ Students)
  • Down the Road from St. Joseph Regional Medical Center - a 254-Bed Facility with Over 3,000 Employees
  • Easily Accessible from North Main Street with Nearly 30,000 Cars per Day at the Intersection of North Main Street and West Day Road
  • Less Than Two Miles Off the I-90 Freeway, a Major Connector with Direct Access to Chicago and Toledo

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Listing Price: $3,407,000

Cap Rate
5.00%
Tenant Name
Hooters
Years Remaining On Lease
13.6
Gross SF
4,714
Guarantor
Corporate Guarantee
Rentable SF
4,714
Price/Gross SF
$722.74
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.14

Investment Highlights

  • 13 Years Remaining on Absolute Triple-Net (NNN) Lease
  • 8.5 Percent Rental Increases Occurring Every Five Years
  • 167,599 Residents within a Five-Mile Radius in Growing Trade Area - South Bend MSA
  • Located in the Largest Retail Corridor in Northern Indiana - Surrounding Retail Tenants Include Walmart, Sam's Club, Target, Lowe's, Meijer, Hobby Lobby, Chick-fil-A, Chipotle, The Home Depot, Target, and More
  • Four Miles East of the University of Notre Dame (12,700+ Students)
  • Down the Road from St. Joseph Regional Medical Center - a 254-Bed Facility with Over 3,000 Employees
  • Easily Accessible from North Main Street with Nearly 30,000 Cars per Day at the Intersection of North Main Street and West Day Road
  • Less Than Two Miles Off the I-90 Freeway, a Major Connector with Direct Access to Chicago and Toledo

Investment Overview

Hooters was founded in 1983 in Clearwater, Florida, and has since expanded globally to more than 420 locations in 42 U.S. states and 29 countries. In 2020, Hooters saw total sales of over $841 million, with 2.7 percent sales growth and 2.2 percent unit growth across the year. Mishawaka is located on the St. Joseph River in northern Indiana, adjacent to the city of South Bend. Mishawaka, known as “the Princess City,” is a growing commercial city home to a growing population, major business expansion, and record-breaking new construction. The city is home to Bethel College, AM General’s Hummer Plant, multiple city parks, and the second-largest retail corridor in the state. As of 2019, Mishawaka’s estimated population was over 50,300 people.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

MM Texture Background
MM Textured Background Lower