NNN-Leased Hardee’s Restaurant
For Sale
Contact for pricing
108 N 4th St, Chillicothe, IL 61523
Single-tenant NNN restaurant with a recently extended 20-year lease and four renewal options with periodic rent increases.
Property Size3,415 SF
Lot Size0.68 Acres
Price / SF$318.01
Days on Market568
Property Features for 108 N 4th St
General Information
Standard status
Active
Size
3,415 SF
Lot size
0.68 Acres
Property subtype
RETAIL
Building Details
Year Built
2005
Year Renovated
2012
Buildings
1
Listing Agency:
Secure Net Lease - Dallas
(214) 915-8890
Listed By:
Russell Smith · License #587553
Source:
Moodyscre
Added: Jan 15, 2025
Changed: Jul 29
Last Checked: Jul 29 at 11:52AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Secure Net Lease - Dallas
Investment Insights
Based on property information with market context.
This NNN-leased restaurant property was constructed in 2005 and renovated in 2012. The building offers 3,415+/- SF on a 0.68+/- acre site and is operated under a recently extended 20-year NNN lease. The lease has (4) 5-year options to renew, with 10% rental increases every 5 years.
The tenant is Hardee’s, which operates over 1,800 restaurants across the U.S. and 13 other countries. The lease is guaranteed by LBE Holdings, which includes 64 units. The property is located 15 miles north of downtown Peoria, IL, 100 miles southwest of Chicago, IL, and 150 miles northeast of St. Louis, MO.
The tenant is Hardee’s, which operates over 1,800 restaurants across the U.S. and 13 other countries. The lease is guaranteed by LBE Holdings, which includes 64 units. The property is located 15 miles north of downtown Peoria, IL, 100 miles southwest of Chicago, IL, and 150 miles northeast of St. Louis, MO.
Key Highlights
- 3,415+/- SF building built in 2005 and renovated in 2012
- 0.68+/- acre site
- Recently extended 20‑year NNN lease
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.2k | $17.04 |
| − Vacancy | −$3.6k | −$1.06 |
| EGI | $54.6k | $15.98 |
| − OpEx | −$13.6k | −$4.00 |
| NOI | $40.9k | $11.99 |
3,415 SF · lease $17.04/SF/yr · vacancy 6.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$584.8K
$511.7K – $682.3K
NOI $40,938 @ 7.0% cap · market cap 3.77%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.99M
$2.61M – $3.49M
NOI $209,119 @ 7.0% cap · market cap 19.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Explore this area
Business Placement
Demographics for 61523, IL
10,951
Population
4,773
Households
2.3
Avg Household Size
44
Median Age
27%
College-Educated
96%
High-School Grad
53.3 sq mi
ZIP Area
205
Density / Sq Mi
$74,100
Median Household Income
$45,229
Median Earnings
$907
Median Rent
$151,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Single-tenant NNN restaurant with a recently extended 20-year lease and four renewal options with periodic rent increases.
Where is this nnn property located?
The property is located at 108 N 4th St Chillicothe, IL.
What is the asking price?
The asking price for this property is $1,086,000.
What are key features of this property?
This property features: 3,415+/- SF building built in 2005 and renovated in 2012; 0.68+/- acre site; Recently extended 20‑year NNN lease
