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Restaurant

Andy's Frozen Custard

11275 W Lincoln Hwy, Mokena, IL 60448

Listing Price: $1,750,000

Cap Rate
6.00%
Tenant Name
Andy's Frozen Custard
Years Remaining On Lease
20.2
Guarantor
Corporate Guarantee
Rentable SF
2,200
Lease Type
Ground Lease
Rent Per Square Feet
$47.73

Investment Overview

Marcus & Millichap is pleased to exclusively market for sale a brand new 2024 construction single-tenant Andy’s Frozen Custard. The Property, in which the tenant has a brand new 20-year ground lease, is positioned within the Chicago MSA. The lease features a 10 percent increase every five years in the original term followed by 10 percent increases in each of the three, five year renewal options to offset inflation.

Investment Highlights

  • Low Rent Basis Opportunity — Annual Ground Rent of $105k per Year
  • New 2024 Construction Building with 20-Year Ground Lease | No Landlord Responsibilities
  • High Credit Operator — Corporate Andy's Lease, Not a Franchisee
  • Organic Rent Growth With 10 Percent Rent Increases Every Five Years
  • Affluent Chicago Suburb — $151k Average Household Income Within a Five Mile Radius
  • Grocery Anchor and National Shadow Tenants: The Adjoining Shopping Center Features Meijer, Binny's Beverage Depot, PetSmart, Chase Bank, Dollar Tree and More

Exclusively Listed By

Restaurant

Andy's Frozen Custard

Listing Price: $1,750,000

Cap Rate
6.00%
Tenant Name
Andy's Frozen Custard
Years Remaining On Lease
20.2
Guarantor
Corporate Guarantee
Rentable SF
2,200
Lease Type
Ground Lease
Rent Per Square Feet
$47.73

Investment Highlights

  • Low Rent Basis Opportunity — Annual Ground Rent of $105k per Year
  • New 2024 Construction Building with 20-Year Ground Lease | No Landlord Responsibilities
  • High Credit Operator — Corporate Andy's Lease, Not a Franchisee
  • Organic Rent Growth With 10 Percent Rent Increases Every Five Years
  • Affluent Chicago Suburb — $151k Average Household Income Within a Five Mile Radius
  • Grocery Anchor and National Shadow Tenants: The Adjoining Shopping Center Features Meijer, Binny's Beverage Depot, PetSmart, Chase Bank, Dollar Tree and More

Investment Overview

Marcus & Millichap is pleased to exclusively market for sale a brand new 2024 construction single-tenant Andy’s Frozen Custard. The Property, in which the tenant has a brand new 20-year ground lease, is positioned within the Chicago MSA. The lease features a 10 percent increase every five years in the original term followed by 10 percent increases in each of the three, five year renewal options to offset inflation.

Exclusively Listed By

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