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Restaurant

Taco Bell Waukegan IL

2780 Belvidere Rd, Waukegan, IL 60085

Listing Price: $2,791,800

Cap Rate
4.50%
Tenant Name
Taco Bell
Years Remaining On Lease
13.9
Guarantor
Franchisee Guarantee
Rentable SF
2,600
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$48.32

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a well-located single tenant drive-thru Taco Bell with a long term absolute NNN fee simple lease in the ever-improving city of Waukegan, Illinois. The tenant has over 14 years remaining on their initial 20 year lease with annual increase and options to extend. The operator is Bell Great Lakes LLC which operates over 60+ locations and under the same ublre to the parent company of the 2nd largest Taco Bell operator Bell America (200+ Units). The subject property is comprised of a 2,600 square foot drive-thru building situated upon 30,492 square feet of land as part of a larger shopping center along Belvidere Road. Belvidere Road is a major thoroughfare that converges with Highway 120 with over 25,000 Cars Per Day and also connects with Highway 41 to the suburbs of North Chicago. The city of Waukegan can be described as a growing industrial suburb with excellent distribution capabilities which is why it has attracted major technology, distribution and medical industry companies such as Amazon, FedEx, Abbott Labs, Medline, AbbVie Pharmaceutical, Thermoflex to name a few. Major essential retailers surrounding the site are Home Depot, Dollar Tree, Walgreens, Extra Space Storage, IHOP, Pizza Hut, Dunkin’, Little Caesars, PNC Bank, AutoZone, Family Dollar, Checkers, Burger King, McDonald’s and Wendy’s. The subject property is also located 1.5 miles east of Massive Tourist Destination Fountain Square which has been selected as future home of proposed American Place Casino (1640 slots machines & 100+ table games, sports betting, a 1,500 seat entertainment venue, 20 room boutique hotel and heliport). All this activity is due to the excellent demographics surrounding the site with a five-mile demographics of over 232,000 people with average household income of $133,993.

Investment Highlights

  • 14 Years Remaining on a Long-Term, 20-Year Absolute NNN Fee Simple Lease - Attractive Rent Growth | Annual Rental Increases of 1.25x the Increase in CPI (Capped at 1.50 Percent)
  • Four, Five-Year Options to Renew | Increases Apply Through Term and Options - Excellent Sales with Year Over Year Growth | Six Percent Rent-to-Sales
  • Subsidiary of Flynn Restaurant Group | Parent Company: Under Management with 2nd Largest Taco Bell Operator Bell America (200+ Units)
  • Lease Guaranteed by Bell Great Lakes, LLC (60+ Unit Entity)
  • Situated Upon Over 30,000 Square Feet of Land on Belvidere Road Over 25,000 Cars Per Day
  • Surrounded by Major Retailers such as Home Depot, Dollar Tree, Walgreens, Extra Space Storage, IHOP, Pizza Hut, Dunkin', Little Caesars, PNC Bank, AutoZone, Family Dollar, Checkers, Burger King, McDonald's and Wendy's
  • Located 1.5 Miles East of Massive Tourist Destination Fountain Square Which has Been Selected as Future Home of Proposed American Place Casino (1640 Slots Machines and 100+ Table Games, Sports Betting, a 1,500 Seat Entertainment Venue, 20 Room Boutique Hotel and Heliport)
  • Strong Supporting Demographics Surrounding the Site with a Five-Mile Demographics of Over 232,000 People with Average Household Income of $133,993

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Financing By

Restaurant

Taco Bell Waukegan IL

Listing Price: $2,791,800

Cap Rate
4.50%
Tenant Name
Taco Bell
Years Remaining On Lease
13.9
Guarantor
Franchisee Guarantee
Rentable SF
2,600
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$48.32

Investment Highlights

  • 14 Years Remaining on a Long-Term, 20-Year Absolute NNN Fee Simple Lease - Attractive Rent Growth | Annual Rental Increases of 1.25x the Increase in CPI (Capped at 1.50 Percent)
  • Four, Five-Year Options to Renew | Increases Apply Through Term and Options - Excellent Sales with Year Over Year Growth | Six Percent Rent-to-Sales
  • Subsidiary of Flynn Restaurant Group | Parent Company: Under Management with 2nd Largest Taco Bell Operator Bell America (200+ Units)
  • Lease Guaranteed by Bell Great Lakes, LLC (60+ Unit Entity)
  • Situated Upon Over 30,000 Square Feet of Land on Belvidere Road Over 25,000 Cars Per Day
  • Surrounded by Major Retailers such as Home Depot, Dollar Tree, Walgreens, Extra Space Storage, IHOP, Pizza Hut, Dunkin', Little Caesars, PNC Bank, AutoZone, Family Dollar, Checkers, Burger King, McDonald's and Wendy's
  • Located 1.5 Miles East of Massive Tourist Destination Fountain Square Which has Been Selected as Future Home of Proposed American Place Casino (1640 Slots Machines and 100+ Table Games, Sports Betting, a 1,500 Seat Entertainment Venue, 20 Room Boutique Hotel and Heliport)
  • Strong Supporting Demographics Surrounding the Site with a Five-Mile Demographics of Over 232,000 People with Average Household Income of $133,993

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a well-located single tenant drive-thru Taco Bell with a long term absolute NNN fee simple lease in the ever-improving city of Waukegan, Illinois. The tenant has over 14 years remaining on their initial 20 year lease with annual increase and options to extend. The operator is Bell Great Lakes LLC which operates over 60+ locations and under the same ublre to the parent company of the 2nd largest Taco Bell operator Bell America (200+ Units). The subject property is comprised of a 2,600 square foot drive-thru building situated upon 30,492 square feet of land as part of a larger shopping center along Belvidere Road. Belvidere Road is a major thoroughfare that converges with Highway 120 with over 25,000 Cars Per Day and also connects with Highway 41 to the suburbs of North Chicago. The city of Waukegan can be described as a growing industrial suburb with excellent distribution capabilities which is why it has attracted major technology, distribution and medical industry companies such as Amazon, FedEx, Abbott Labs, Medline, AbbVie Pharmaceutical, Thermoflex to name a few. Major essential retailers surrounding the site are Home Depot, Dollar Tree, Walgreens, Extra Space Storage, IHOP, Pizza Hut, Dunkin’, Little Caesars, PNC Bank, AutoZone, Family Dollar, Checkers, Burger King, McDonald’s and Wendy’s. The subject property is also located 1.5 miles east of Massive Tourist Destination Fountain Square which has been selected as future home of proposed American Place Casino (1640 slots machines & 100+ table games, sports betting, a 1,500 seat entertainment venue, 20 room boutique hotel and heliport). All this activity is due to the excellent demographics surrounding the site with a five-mile demographics of over 232,000 people with average household income of $133,993.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

Financing By

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