Corporate-Backed NNN Ground
For Sale
Contact for pricing
491 N Randall Rd, Batavia, IL 60510
Single-tenant restaurant investment with a long operating history and landlord-free lease structure.
Property Size5,547 SF
Price / SF$324.50
Days on Market161
Property Features for 491 N Randall Rd
General Information
Standard status
Active
Size
5,547 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$99,825
Site & Location
Anchor Co-Tenants
ALDI, Hobby Lobby, Harbor Freight, Office Max, KOHLS
Traffic Count
34,700 vehicles/day
Building Details
Year Built
1998
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Anchor Point Capital
Listed By:
Eric Vu · License #01913407
Source:
Crexi
Added: Mar 25
Changed: Aug 30
Last Checked: Sep 1 at 5:03AM
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 Anchor Point Capital
Investment Insights
Based on property information with market context.
This 5,547-square-foot restaurant property at 491 N Randall Rd in Batavia, Illinois, was built in 1998 and is occupied by Chili’s Grill & Bar. The absolute NNN ground lease places no landlord responsibilities on the owner and has 8 Years remaining on the corporate lease, guaranteed by Brinker International, Inc. The initial term includes a 5% rent increase, followed by four renewal options with 10% rental increases at each option.
The property is an outparcel to a 137,000 SF community shopping center anchored by ALDI, Hobby Lobby, Harbor Freight, Office Max, and KOHLS. It sits along Randall Rd, where traffic exceeds 34,700+ Cars Per Day, and serves as an entry point to the Winding Creek residential development, which includes 165+ newly constructed single-family homes. The site is within the Chicagoland MSA and less than 45 Min Drive to Downtown Chicago.
The property is an outparcel to a 137,000 SF community shopping center anchored by ALDI, Hobby Lobby, Harbor Freight, Office Max, and KOHLS. It sits along Randall Rd, where traffic exceeds 34,700+ Cars Per Day, and serves as an entry point to the Winding Creek residential development, which includes 165+ newly constructed single-family homes. The site is within the Chicagoland MSA and less than 45 Min Drive to Downtown Chicago.
Key Highlights
- 8 Years remaining on corporate lease guaranteed by Brinker International, Inc.
- Absolute NNN ground lease with zero landlord responsibilities
- 5% rent increase in initial term; four renewal options with 10% increases
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$69,343
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.85%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,386,860
$1.4M
Cap Rate 7%
$990,614
$990.6K
Cap Rate 9%
$770,478
$770.5K
Market Conditions
NOI Build-Up for 5,547 SF
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.
Gross rent
$99.8K $18.00/SF
− Vacancy
−$7.4K −$1.33/SF
EGI
$92.5K $16.67/SF
− OpEx
−$23.1K −$4.17/SF
NOI
$69.3K $12.50/SF
Area
Kane County, IL
Vacancy
7.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,386,860
Cap Rate 7%
$990,614
Cap Rate 9%
$770,478
Alternative Uses
Best Use
Specialty Retail
$990.6K
$866.8K – $1.16M
NOI $69,343 @ 7.0% cap · market cap 3.85%
Second Best
Retail
$956.5K
$837.0K – $1.12M
NOI $66,957 @ 7.0% cap · market cap 3.72%
Theoretical Best
Office A
$1.92M
$1.68M – $2.23M
NOI $134,059 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
34,700 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
459
Businesses Nearby
734k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 29%
Superstores 24%
Shops & Services 13%
Apparel 13%
Walmart
Superstores
91,291 visits/mo
0.4 miles
Target
Superstores
87,043 visits/mo
0.5 miles
Kohl's
Apparel
58,756 visits/mo
0.3 miles
Portillo's
Dining
49,428 visits/mo
0.1 miles
Menards
Home Improvements & Furnishings
45,167 visits/mo
0.3 miles
Demographics for 60510, IL
28,156
Population
11,234
Households
2.5
Avg Household Size
42
Median Age
56%
College-Educated
97%
High-School Grad
24.4 sq mi
ZIP Area
1,154
Density / Sq Mi
$120,925
Median Household Income
$57,884
Median Earnings
$1,285
Median Rent
$363,000
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 restaurant investment with a long operating history and landlord-free lease structure.
Where is this nnn property located?
The property is located at 491 N Randall Rd Batavia, IL.
What is the asking price?
The asking price for this property is $1,800,000.
What are key features of this property?
This property features: 8 Years remaining on corporate lease guaranteed by Brinker International, Inc.; Absolute NNN ground lease with zero landlord responsibilities; 5% rent increase in initial term; four renewal options with 10% increases
