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3340 Sheridan Rd
Zion, IL 60099
Popeyes · Retail Property For Sale
Investment Highlights
- Brand New 20-Year Absolute NNN Lease
- Industry-Leading Brand
- Dense Retail Corridor
- 2023 Build-to-Suit Construction
- Top Franchisee and Low Rent
- Outstanding Access & Visibility
Executive Summary
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the Popeyes property located in Zion, IL (the “Property”). The Property consists of a 2,163-square-foot freestanding retail building on a 1.58-acre parcel of land. Popeyes will operate under a brand new 20-year absolute net lease, offering a truly passive investment asset. The lease also features 7.50% rental escalations every five years throughout the base and option terms, providing investors with a significant hedge against inflation. See lease abstract for full details.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
2,163 SF
Building Class
B
Year Built
2023
Price
$3,654,426 CAD
Price Per SF
$1,689.52 CAD
Cap Rate
6%
NOI
$219,266 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
1.58 AC
Parking
41 Spaces (18.96 Spaces per 1,000 SF Leased)
Frontage
Property Taxes
| Parcel Number | 04-28-408-002 | Improvements Assessment | $258,736 CAD |
| Land Assessment | $251,470 CAD | Total Assessment | $510,206 CAD |
Property Taxes
Parcel Number
04-28-408-002
Land Assessment
$251,470 CAD
Improvements Assessment
$258,736 CAD
Total Assessment
$510,206 CAD
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