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948 E Dundee Rd
Palatine, IL 60074
IHOP and Teriyaki Madness · Retail Property For Sale
Investment Highlights
- Attractive 3% Annual Rent Increases
- Global Tenant Founded in 1958
- High-Visibility Retail Corridor | Strong Traffic Counts
- Complementary Daypart Synergy | IHOP & Teriyaki Madness
Executive Summary
Surmount is pleased to present the exclusive listing for an IHOP and Teriyaki Madness located at 948 Dundee Road, Palatine, IL 60074. The property consists of approximately 4,336 rentable square feet situated on an estimated 0.51-acre parcel and is leased to two nationally recognized quick-service concepts, IHOP and Teriyaki Madness. The current annual rent is $150,324 and IHOP is secured by a 20-year Triple Net (NNN) lease with 10% rental increases every five years while Teriyaki Madness operates under a 10-year NNN lease featuring annual 3% rent escalations.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,336 SF
Building Class
B
Year Built
2021
Price
$3,301,210 CAD
Price Per SF
$761.35 CAD
Cap Rate
6.35%
NOI
$209,627 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
0.51 AC
Opportunity Zone
Yes
Zoning
Commercial
Frontage
74’ on East Dundee Road
Amenities
- Pylon Sign
Property Taxes
| Parcel Number | 02-01-300-029-0000 | Improvements Assessment | $161,146 CAD |
| Land Assessment | $100,645 CAD | Total Assessment | $261,791 CAD |
Property Taxes
Parcel Number
02-01-300-029-0000
Land Assessment
$100,645 CAD
Improvements Assessment
$161,146 CAD
Total Assessment
$261,791 CAD
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