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Restaurant

NNN 24 Hour Restaurant - Seasoned Operator

1606 W Jefferson St, Joliet, IL 60435

Listing Price: $957,050

Cap Rate
8.15%
Tenant Name
Tacos El Tio
Years Remaining On Lease
3.4
Gross SF
1,400
Guarantor
Personal Guarantee
Rentable SF
1,400
Price/Gross SF
$683.61
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$55.71

Investment Overview

Marcus & Millichap is pleased to present a single-tenant NNN leased Mexican restaurant called Tacos “El Tio” #6. The tenant has four years remaining on their term with 3, 5-year options. The options feature 10% rental increases. The tenant is a seasoned operator with significant growth, and they are expanding to new locations in the Chicago area. This location opened in 2022 and it recently extended its hours to be open 24 hours a day, seven days a week.

The entire building and drive-thru were renovated in 2018. The property is situated along a major east/west retail thoroughfare with frontage along Jefferson Street and features a large pylon sign. The location offers a patio, and drive-thru which adds value and flexibility.

The property is situated in a heavily traveled corridor with 24,600 vehicles per day along Jefferson Street. It is located 0.3 miles from the intersection of Jefferson Street and Larkin Avenue, which has 55,200 vehicles per day and one mile from the Interstate 80 interchange, which has 93,300 vehicles per day.

The property has strong surrounding drivers including major retailers, a large hospital, and many schools. Some notable retailers in close proximity include Walmart Supercenter, Menards, Sam's Club, Jewel-Osco, Walgreens, Planet Fitness, and Dollar Tree.

Investment Highlights

  • NNN Leased Mexican Restaurant | Tacos "El Tio" #6 | No Landlord Responsibilities
  • Seasoned Operator with Significant Growth | Expanding Tenant with Locations Across the Chicagoland Area
  • Recent Renovations | The Entire Building and Drive-Thru Were Renovated in 2018
  • Situated Along the Major East/West Retail Thoroughfare of the Area - Many National Retailers | 24,600 Vehicles per Day Along Jefferson Street
  • One Mile from the Interstate 80 Interchange | 93,300 Vehicles per Day
  • Dense Infill Location | 25,564 People Work Within One Mile
  • Strong Rent-to-Sales Ratio of Approximately 5%

Exclusively Listed By

Financing By

Restaurant

NNN 24 Hour Restaurant - Seasoned Operator

Listing Price: $957,050

Cap Rate
8.15%
Tenant Name
Tacos El Tio
Years Remaining On Lease
3.4
Gross SF
1,400
Guarantor
Personal Guarantee
Rentable SF
1,400
Price/Gross SF
$683.61
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$55.71

Investment Highlights

  • NNN Leased Mexican Restaurant | Tacos "El Tio" #6 | No Landlord Responsibilities
  • Seasoned Operator with Significant Growth | Expanding Tenant with Locations Across the Chicagoland Area
  • Recent Renovations | The Entire Building and Drive-Thru Were Renovated in 2018
  • Situated Along the Major East/West Retail Thoroughfare of the Area - Many National Retailers | 24,600 Vehicles per Day Along Jefferson Street
  • One Mile from the Interstate 80 Interchange | 93,300 Vehicles per Day
  • Dense Infill Location | 25,564 People Work Within One Mile
  • Strong Rent-to-Sales Ratio of Approximately 5%

Investment Overview

Marcus & Millichap is pleased to present a single-tenant NNN leased Mexican restaurant called Tacos “El Tio” #6. The tenant has four years remaining on their term with 3, 5-year options. The options feature 10% rental increases. The tenant is a seasoned operator with significant growth, and they are expanding to new locations in the Chicago area. This location opened in 2022 and it recently extended its hours to be open 24 hours a day, seven days a week. The entire building and drive-thru were renovated in 2018. The property is situated along a major east/west retail thoroughfare with frontage along Jefferson Street and features a large pylon sign. The location offers a patio, and drive-thru which adds value and flexibility. The property is situated in a heavily traveled corridor with 24,600 vehicles per day along Jefferson Street. It is located 0.3 miles from the intersection of Jefferson Street and Larkin Avenue, which has 55,200 vehicles per day and one mile from the Interstate 80 interchange, which has 93,300 vehicles per day. The property has strong surrounding drivers including major retailers, a large hospital, and many schools. Some notable retailers in close proximity include Walmart Supercenter, Menards, Sam's Club, Jewel-Osco, Walgreens, Planet Fitness, and Dollar Tree.

Exclusively Listed By

Financing By

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