Skip to main content

Restaurant

Steak 'n Shake

151 E Ashland St, Morton, IL 61550

Listing Price: $2,042,100

Cap Rate
8.20%
Tenant Name
Steak 'n Shake
Years Remaining On Lease
5.0
Guarantor
Corporate Guarantee
Rentable SF
4,360
Lease Type
Absolute Net
Rent Per Square Feet
$38.35

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest in 151 E Ashland Street (The Property), a 4,360 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 on Ashland Street just off of Interstate 74 and N Morton just east of Peoria, IL. The Property stands as a strategically located outpad to Blain’s Farm and Fleet and adjacent to the Days Inn by Wyndham, Quality Inn, and Park Inn by Radisson Morton. Other surrounding tenants include Walmart Supercenter, Sam Leman Chrysler Dodge Jeep, Kroger, Starbucks, Cracker Barrel, Truck Centers, Inc. among others. This offering presents the opportunity to acquire a well located free-standing absolute net leased asset with annual rent bumps in the revitalizing Peoria, IL MSA.

Investment Highlights

  • Absolute NNN Lease Structure
  • Drive-Thru Access with Ample Parking
  • Main Retail Node – National Tenant Base Surrounding the Subject Property
  • One Block North of Interstate 74 – 37,600 VPD Highway

Exclusively Listed By

Listing Price: $2,042,100

Cap Rate
8.20%
Tenant Name
Steak 'n Shake
Years Remaining On Lease
5.0
Guarantor
Corporate Guarantee
Rentable SF
4,360
Lease Type
Absolute Net
Rent Per Square Feet
$38.35

Investment Highlights

  • Absolute NNN Lease Structure
  • Drive-Thru Access with Ample Parking
  • Main Retail Node – National Tenant Base Surrounding the Subject Property
  • One Block North of Interstate 74 – 37,600 VPD Highway

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest in 151 E Ashland Street (The Property), a 4,360 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 on Ashland Street just off of Interstate 74 and N Morton just east of Peoria, IL. The Property stands as a strategically located outpad to Blain’s Farm and Fleet and adjacent to the Days Inn by Wyndham, Quality Inn, and Park Inn by Radisson Morton. Other surrounding tenants include Walmart Supercenter, Sam Leman Chrysler Dodge Jeep, Kroger, Starbucks, Cracker Barrel, Truck Centers, Inc. among others. This offering presents the opportunity to acquire a well located free-standing absolute net leased asset with annual rent bumps in the revitalizing Peoria, IL MSA.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower