3040 159th St Markham, IL 60428-4041
- Retail space
- 0.07 lot acres
May 21, 2024
Current Use by Public Records
- Retail space
Property Details for 3040 159th St
- Year built
- 2000
- Lot size
- 0.07 lot acres
- Property type
- Retail space
- APN
- 28-13-326-038
- APU
- 2813326038
Description
This exceptional investment opportunity presents a fee-simple, 2,000 square foot Popeyes restaurant located at 3040 W 159th St, Markham, IL, within the Chicago MSA. The property sits on a 0.64-acre lot and boasts a strong 5.75% cap rate, generating a net operating income (NOI) of $128,000. The tenant, the Dhanani Group, is the largest Popeyes franchisee, operating approximately 11,300 units, ensuring financial stability and operational expertise. A new 20-year absolute NNN lease commences at closing, eliminating all landlord responsibilities. Rent increases by 10% every five years, providing built-in inflation protection. The property benefits from a high-traffic location on W 159th St (approximately 32,700 vehicles daily), proximity to a new Amazon Fulfillment Center employing over 3,000, and is surrounded by other national retailers. The property underwent renovations in 2023. The lease includes four five-year renewal options. This investment offers a compelling combination of strong tenant performance, a prime location, and significant long-term growth potential. The asking price is $2,226,087. The property's healthy rent-to-sales ratio of approximately 8% further underscores its financial strength.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,380,000
- ML approach
- $1,380,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Markham
- County
- Cook
- State
- Illinois
- Longitude
- -87.6914
- Latitude
- 41.6011
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
