Available For Sale - Retail

3,730 SF | Show Pricing $

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AVAILABILITY DETAILS

Size
3,730 SF
Price/SF
Show Pricing $
Listing ID
SA416876
Notes
Savills Inc., as the exclusive advisor to the seller, is pleased to present the absolute net lease investment opportunity in the fee simple interest of an IHOP restaurant located at 4383 Venture Drive in Peru, Illinois.



The Property is subject to a twenty-five (25) year NNN Lease that commenced in December of 2019 with ten percent (10%) rental increases every five (5) years beginning in year 10 and at each of the four (4) 5-year Options to Extend. The property is offered at $1,656,169, which is a 5.75% cap rate on annual rents of $95,230.



Primary access to the Subject Property is provided by Venture Drive, which is an arterial road off of County Road 251. Interstate 80, which travels east and west

connecting Chicago with Des Moines and Iowa City, Iowa and generates traffic counts of ±25,000 vehicles per day, is approximately 0.12 miles south of the Subject Property. The Peru Mall, which contains 72 stores throughout its ±460,678 SF GLA, is approximately 0.5 miles to the Subject Property's southwest.



Broker of Record: Joshua Gorin

Illinois License No.: 475.101065

Savills Corporate Illinois License No.: 478.000140
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Emily Mitchell, Savills
BRE# 02051879