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Taco Bell (Ground Lease) 7906 S Western Ave 2,241 SF Retail Building Chicago, IL 60620 $2,316,166 CAD ($1,033.54 CAD/SF) 4% Cap Rate
Investment Highlights
- Approximately ±18 years remaining on lease with “best-in-class” Mexican fast-food chain in the U.S.
- Fixed rent increases every 5 years and 4x5 yr renewal options
- Chicago is the 3rd largest metro area in the U.S.
- Absolute Net Ground Lease; No Landlord responsibilities
- Well below market rent compared to national average for Taco Bell in a major metropolitan market
- Over ±43k vehicles per day at hard corner, signalized intersection (79th & Western)
Executive Summary
CIRE Partners, in cooperation with Continental Real Estate Group, is pleased to present for sale the single tenant net lease Taco Bell in Chicago, Illinois. The property operates under a 25-year NNN ground lease with approximately 18 years remaining and four, 5-year renewal options. The investment offers qualified buyers a well-located asset in a dense urban-infill major market with a below market rent, long-term stable income and fixed rental increases. This is an ideal opportunity to acquire a management-free investment backed by a nationally recognized quick-service restaurant brand that is "best-in-class" in the Mexican food category.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
2,241 SF
Building Class
B
Year Built
2019
Price
$2,316,166 CAD
Price Per SF
$1,033.54 CAD
Cap Rate
4%
NOI
$92,647 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
0.31 AC
Zoning
B3-1
Parking
15 Spaces (6.69 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Drive Thru
Moderately walkable
70/100
Very drivable
80/100
Strong public transit
80/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 19-36-207-042-0000 | Improvements Assessment | $148,304 CAD |
| Land Assessment | $70,714 CAD | Total Assessment | $219,018 CAD |
Property Taxes
Parcel Number
19-36-207-042-0000
Land Assessment
$70,714 CAD
Improvements Assessment
$148,304 CAD
Total Assessment
$219,018 CAD
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Taco Bell (Ground Lease) | 7906 S Western Ave
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