250 Virginia St - Fast Food FOR SALE


Crystal Lake, IL 60014- East Suburban McHenry
$2,030,000 USD
650-279-5790
250 Virginia St, Crystal Lake, IL for Sale
$2,030,000 USD
Fast Food - FOR SALE
1/7
null | 5.55% Cap Rate

250 Virginia St
Crystal Lake, IL 60014
East Suburban McHenry


HIGHLIGHTS

  • 10 years remaining on corporate lease
  • Absolute NNN lease with 7.5% fixed rent increases every 5 years
  • Established location for Burger King since 1978
  • Abundant on-site parking for 47 cars
  • Tenant reporting strong store sales

OVERVIEW

There are 10 years remaining on a corporate lease executed by Burger King Company, LLC. The lease is absolute NNN with 7.5% fixed rent increases every 5 years. Situated on a large parcel of land of +/-.95 acres that provides abundant on-site parking of 47 spaces. This Burger King was updated in 2018 and is situated adjacent to a Savers/Petco anchored shopping center. Daily traffic count on West Virginia Street is reported at 29,900/cars. The city of Crystal Lake is situated approximately 45 miles northwest of Chicago and has a reported city population of 40,000. Burger King is required to report annual store sales which are strong so contact listing agent to further discuss.

FOR SALE DETAILS

PRICE

$2,030,000 USD

PRICE/SF

$516 USD /SF

CAP RATE

5.55%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Corporate Burger King

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

ADD'L SUBTYPES

Freestanding, Restaurant, undefined

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

47

LAND DETAILS

LAND ACRES

0.95 AC

LAND SF

41,382 SF

ZONING

B-2

APN/PARCEL ID

19-05-334-033

ASK ABOUT THIS PROPERTY

Steve SauterMarcus & MillichapMore Info
650-279-5790

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Steve SauterMarcus & MillichapMore Info
650-279-5790

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