4809 77th St Burbank, IL 60459-1586

Property Details for 4809 77th St

Year built

1983

Lot size

0.11 lot acres

Property type

Retail space

APN

19-28-401-049

APU

1928401049

Description

This exceptional investment opportunity presents a 3,432 square foot Popeyes restaurant located at 4809 W 77th St, Burbank, IL 60459. The property sits on a 0.11-acre lot and boasts a 20-year net lease with a lease commencement date of January 31, 1984, and an expiration date of January 31, 2045. The lease includes three 5-year renewal options, ensuring long-term stability. The property features a 5.85% cap rate and a current NOI of $130,000, representing a significant return on investment. The tenant, Popeyes, is responsible for all costs associated with the property, including CAM, insurance, and maintenance, offering a truly passive investment experience. The lease is guaranteed by APA Central MGMT LLC, which operates five Popeyes locations in the Chicagoland area, and is part of the Parikh Network LLC, a major fast-food operator with over 120 Popeyes locations nationwide. This outlot location is part of the Burbank Town Center, a high-traffic shopping center anchored by national retailers such as Kohl's and Best Buy, further enhancing the property's value and potential for consistent revenue. The surrounding area is densely populated, with 566,610 residents within a five-mile radius and an average household income exceeding $90,519. The property was built in 1984 and enjoys 100% occupancy. This is a rare opportunity to acquire a well-established, high-performing asset with significant long-term growth potential. The property's strategic location within a thriving retail center, coupled with the strength of the tenant and the long-term lease, makes this an attractive investment for discerning buyers.