Building Details

Year Built 1991

Tenancy Single

Listing Agency: CBRE - Atlanta b***@cbre.com Show Phone

Listed By: Chris Bosworth · License #GA 248342

Source: Crexi

Added: Apr 11 Changed: Jul 23 Last Checked: Jul 30 at 2:55PM

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Investment Insights

Based on property information with market context.

A 4,744-square-foot Hardee’s built in 1991 sits on 1.26 acres and is offered as an absolute NNN investment. The lease features approximately 9.5 years of primary term remaining, along with four additional 5-year renewal options. Rent increases are structured as the lesser of 1.75% or 1.25 times the CPI increase. The tenant is TriStar Ventures, LLC, and the lease includes a guaranty from LBE Holdings, LLC, along with guaranties from River Valley Restaurants, LLC and North Star Foods, LLC.

The property is positioned along West War Memorial Drive (18,700 VPD), roughly 6 miles from downtown Peoria. It is less than a mile east of IL-6 (27,700 VPD) and about 3 miles from the I-74/I-474 interchange (66,000+ combined VPD). The site also operates as an outparcel to Willow Knolls Court shopping center, which includes tenants such as Sam’s Club, Kohl’s, Ollie’s Bargain Outlet, GQT Theatres, Office Depot, and Dollar Tree, among others. The center’s reported visitation totals include 570,700 visitors across 3.4M visits over the last 12 months.

Key Highlights

• 4,744‑SF Hardee’s on 1.26 acres in Peoria, IL with an absolute NNN lease
• ±9.5 years of primary term remaining with four 5‑year renewal options
• Lease provides annual rent increases of the lesser of 1.75% or 1.25x the CPI increase

Property Analytics

Current Use

Hardee's Restaurant

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Law Firm Auto Repair Shop Big Box & Wholesale Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

18,700 VPD

Traffic count

Single-tenant

Tenancy

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

455

Businesses Nearby

340k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 29% Superstores 28% Shops & Services 20% Apparel 16%

Sam's Club Superstores

94,647 visits/mo 0.3 miles

Kohl's Apparel

53,392 visits/mo 0.3 miles

Olive Garden Dining

33,321 visits/mo 0.1 miles

Dollar Tree Shops & Services

27,657 visits/mo 0.2 miles

McDonald's Dining

26,307 visits/mo 0.1 miles

Demographics for 61615, IL

24,314

Population

11,334

Households

2.1

Avg Household Size

38

Median Age

53%

College-Educated

98%

High-School Grad

29.6 sq mi

ZIP Area

821

Density / Sq Mi

$82,157

Median Household Income

$50,165

Median Earnings

$1,079

Median Rent

$206,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Hardee’s on 1.26 acres with an absolute NNN lease and 9.5 years of primary term remaining.

Where is this conventional restaurant located?

The property is located at 3909 W War Memorial Dr Peoria, IL.

What are key features of this property?

This property features: 4,744‑SF Hardee’s on 1.26 acres in Peoria, IL with an absolute NNN lease; ±9.5 years of primary term remaining with four 5‑year renewal options; Lease provides annual rent increases of the lesser of 1.75% or 1.25x the CPI increase