1551 Busse Rd - Fast Food FOR SALE


Elk Grove Village, IL 60007- Des Plaines/Arlington Hts Corridor
$1,646,000 USD
312-624-7006
1551 Busse Rd, Elk Grove Village, IL for Sale
$1,646,000 USD
Fast Food - FOR SALE
1/6
null | 7.38% Cap Rate

1551 Busse Rd
Elk Grove Village, IL 60007
Des Plaines/Arlington Hts Corridor


HIGHLIGHTS

  • Two-tenant, Class A retail center offered at a compelling yield and going in price per square foot, particularly for a retail center built in 2019
  • Potbelly Sandwich Shop accounts for 53.3% of the space, with their lease expiring at the end of 2028 – this is a drive-thru location
  • Skyrio Halal Restaurant accounts for 46.7% of the space, and recently signed a 5YR NNN lease with 3% annual rental escalators
  • Strategically located at the signalized intersection of Busse and Greenleaf Rd – less than one mile west of O’Hare International Airport
  • Adjacent to a new construction freestanding Starbucks drive-thru
  • Property features a prominent pylon sign on the hard corner – visibility to a combined traffic count of over 45,000 Vehicles Per Day

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a two-tenant Class A retail center located at 1551 Busse Rd, Elk Grove Village, IL. The asset is well-sited on the hard corner of Busse and Greenleaf Rd, a signalized intersection with traffic counts exceeding 45,000 vehicles per day. Potbelly Sandwich Shop, a drive-thru location, occupies the majority of the space. They have roughly 3.5 years remaining on a NNN lease, with the landlord responsible for roof/structure only. Skyrio Halal Restaurant occupies the remaining 46% of the space and recently signed a fresh 5YR lease with 3% annual rental escalators. This is a Class A building constructed in 2019. It features an attractive sandstone façade with flagstone columns. The building services Elk Grove Village’s prolific industrial real estate infrastructure and offers lunchtime options for the daytime population of over 140,000 people. Additionally, 60,000 people live within a 3-mile radius with an average household income of roughly $93,000. The property has multiple points of ingress and egress onto both Busse and Greenleaf Rd. Busse Rd is the primary north/south artery through Elk Grove Village, and the property is located less than one mile west of O’Hare International Airport. Immediately adjacent to the site you can find well-known retailers such as Starbucks, Portillo’s, McDonalds, Taco Bell and Physicians Immediate Care. Competively priced at a 7.38% CAP rate, this is an opportunity to purchase a newly constructed, Class A retail center, at an above-market yield.

FOR SALE DETAILS

PRICE

$1,646,000 USD

PRICE/SF

$366 USD /SF

CAP RATE

7.38%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Potbelly Retail Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2019

SPRINKLERS

-

PARKING SPACES

72

LAND DETAILS

LAND ACRES

1.02 AC

LAND SF

44,431 SF

ZONING

I2, Elk Grove Vlg

APN/PARCEL ID

08-35-104-081-0000

ASK ABOUT THIS PROPERTY

Mitchell KivenMarcus & MillichapMore Info
312-624-7006

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Mitchell KivenMarcus & MillichapMore Info
312-624-7006

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.