3340 Sheridan Rd - Freestanding FOR SALE


Zion, IL 60099
$2,666,667 USD
310-909-2394
3340 Sheridan Rd, Zion, IL for Sale
$2,666,667 USD
Freestanding - FOR SALE
1/3
null | 6% Cap Rate

3340 Sheridan Rd
Zion, IL 60099


HIGHLIGHTS

  • Brand-New 20-Year Absolute NNN Lease | Zero Landlord Responsibilities
  • Scheduled 10% Rent Increases Every 5 Years for Built-In Income Growth
  • 6.00% Cap Rate on $160,000 NOI, With Rent Commencing June 2026
  • Four (4) Five-Year Renewal Options for Up to 20 Additional Years of Occupancy
  • ?Operated by an Award-Winning Franchisee (2024 Popeyes Developer of the Year) With Personal Guaranty
  • Freestanding ±2,163 SF Drive-Thru Built in 2022 on ±1.58 Acres

OVERVIEW

Marcus & Millichap is pleased to present the opportunity to acquire a freestanding Popeyes drive-thru located at 3340 Sheridan Road in Zion, Illinois, within the dense North Chicagoland trade area. The ±2,163-square-foot restaurant, built in 2022, sits on ±1.58 acres and is secured by a brand-new 20-year absolute NNN lease with zero landlord responsibilities and four (4) five-year renewal options. Annual base rent of $160,000 commences June 2026 at a 6.00% cap rate, with scheduled 10% rent increases every five years providing dependable income growth and inflation protection. The store is operated by an experienced, award-winning franchisee operating an extensive Popeyes portfolio across the Greater Chicago Area, Indiana, Michigan, and Wisconsin, recognized as 2024 Popeyes Developer of the Year and 2022 Popeyes Franchisee of the Year, with a personal guaranty in place. The property is positioned along Sheridan Road (IL-137, ±9,064 VPD), Zion's primary commercial spine, with convenient access to Illinois Route 173 and Interstate 94 and corridor neighbors including Culver's, Wendy's, ALDI, and Dollar General.? The 5-mile trade area holds 104,195 residents, and the asset sits within the Chicago MSA, the third-largest in the nation with more than 9.4 million residents. Illinois Broker of Record: Steven Weinstock Marcus & Millichap Steven.Weinstock@MarcusMillichap.com Lic #: 471.01117

FOR SALE DETAILS

PRICE

$2,666,667 USD

PRICE/SF

$1,233 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Popeyes | New 20-Yr Abs NNN | Zion, IL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

41

LAND DETAILS

LAND ACRES

1.58 AC

LAND SF

68,825 SF

ZONING

-

APN/PARCEL ID

04-28-408-002

ASK ABOUT THIS PROPERTY

Jason FeferMarcus & MillichapMore Info
310-909-2394

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Jason FeferMarcus & MillichapMore Info
310-909-2394

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