582 Main NW St Bourbonnais, IL 60914-2306

Property Details for 582 Main NW St

Lot size

0.72 lot acres

Property type

Commercial real estate

APN

17-09-19-100-216

APU

170919100216

Description

This exceptional investment opportunity presents a fee-simple ownership of a high-performing Taco Bell restaurant located at 582 Main St NW, Bourbonnais, IL 60914. The 2,340 square foot property sits on a 0.72-acre lot and boasts a strong 6.25% cap rate, generating a net operating income (NOI) of $114,527. The property benefits from an absolute NNN lease with a franchisee tenant, ensuring minimal landlord responsibilities. The current lease, commencing May 1, 2019, and expiring May 2, 2026, has approximately 1.4 years remaining on the initial term, followed by four, five-year renewal options. Rent increases by 10% every five years, providing a hedge against inflation. The tenant, Ampler Restaurant Group, is a significant operator with 475+ units, further strengthening the investment's stability. The lease is guaranteed by AG Bells II, LLC, adding an additional layer of security. This prime location is situated on a signalized hard corner with high visibility, exceeding 17,000 vehicles per day. It's part of a high-profile retail corridor near Bourbonnais Towne Centre Shopping Mall and other national retailers. The property also benefits from its proximity to a newly developed community center and a strong demographic profile, with an average household income exceeding $75,098 within a 5-mile radius and over 66,000 residents in the same area. The asking price is $1,832,448, translating to a price per square foot of $783.10. Built in 1992, this Taco Bell location consistently outperforms the average unit volume (AUV), making it a compelling investment prospect.