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Restaurant

Steak 'n Shake

7515 North Grand Prairie Drive, Peoria, IL 61615

Listing Price: $1,785,000

Cap Rate
8.50%
Tenant Name
Steak 'n Shake
Years Remaining On Lease
4.8
Guarantor
Corporate Guarantee
Rentable SF
3,990
Lease Type
Absolute Net
Rent Per Square Feet
$38.04

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest 7515 N Grand Prairie Drive (The Property), a 3,990 square foot building that is currently leased to Steak ‘n Shake Corporation with 5.25+ years of remaining lease term on their original 18-year lease. The Property is located off of West War Memorial Drive and North Grand Prairie Drive, in Northwest Peoria, IL, one of the largest cities in the state of Illinois. The Property stands as a strategically located outpad to Hy-Vee supermarket just one-block off of the very busy Route 6 which sees 35,000+ VPD in the main retail node of Grand Prairie Plaza. Notable tenants include: DSW, Starbucks, Dick’s Sporting Goods, H&M, Ann Taylor Loft, Marshalls, Jimmy John’s among many others. This offering presents the opportunity to acquire a primely located free-standing, absolute net leased asset with annual rent bumps in the densely populated and revitalizing Peoria market.

Investment Highlights

  • Absolute NNN Lease Structure
  • Drive-Thru Access with Ample Parking
  • Main Retail Node – Situated Adjacent to Grand Prairie Plaza
  • One Block Away from 35,000 VPD IL Route 6

Exclusively Listed By

Listing Price: $1,785,000

Cap Rate
8.50%
Tenant Name
Steak 'n Shake
Years Remaining On Lease
4.8
Guarantor
Corporate Guarantee
Rentable SF
3,990
Lease Type
Absolute Net
Rent Per Square Feet
$38.04

Investment Highlights

  • Absolute NNN Lease Structure
  • Drive-Thru Access with Ample Parking
  • Main Retail Node – Situated Adjacent to Grand Prairie Plaza
  • One Block Away from 35,000 VPD IL Route 6

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest 7515 N Grand Prairie Drive (The Property), a 3,990 square foot building that is currently leased to Steak ‘n Shake Corporation with 5.25+ years of remaining lease term on their original 18-year lease. The Property is located off of West War Memorial Drive and North Grand Prairie Drive, in Northwest Peoria, IL, one of the largest cities in the state of Illinois. The Property stands as a strategically located outpad to Hy-Vee supermarket just one-block off of the very busy Route 6 which sees 35,000+ VPD in the main retail node of Grand Prairie Plaza. Notable tenants include: DSW, Starbucks, Dick’s Sporting Goods, H&M, Ann Taylor Loft, Marshalls, Jimmy John’s among many others. This offering presents the opportunity to acquire a primely located free-standing, absolute net leased asset with annual rent bumps in the densely populated and revitalizing Peoria market.

Exclusively Listed By

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