420 Virginia StCrystal Lake, IL 60014

For Sale
$2,920,035

High-performing Taco Bell, 9.5 years remaining.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple Taco Bell franchise located at 420 W Virginia St, Crystal Lake, IL 60014. Boasting 2,872 square feet on a 0.43-acre lot, this property features a strong absolute NNN lease with approximately 9.5 years remaining on the initial term, followed by four, five-year renewal options. The lease includes 10% rent increases every five years, providing a hedge against inflation. The tenant, a franchisee of Ampler Restaurant Group (a large, experienced operator of over 475 units), guarantees the lease. Built in 2008 and renovated in 2021, this top-performing location benefits from exceptional visibility on a major thoroughfare with over 30,000 vehicles per day. Its proximity to The Commons of Crystal Lake, a prominent shopping center, and a major redevelopment project, further enhances its value. The property enjoys strong demographics, situated within a 5-mile radius boasting an average household income exceeding $123,000 and a population of over 115,000 residents. The asking price is $2,920,035, representing a 5.70% cap rate and a NOI of $166,442. This is a passive investment opportunity in a prime location within the third-largest metropolitan area in the country. The lease commenced May 1, 2019, and expires January 7, 2034.

Highlights

  • $2,920,035 asking price for this Taco Bell net lease property.
  • Absolute NNN lease with approximately 9.5 years remaining, plus four 5-year options.
  • 5.70% cap rate with a $166,442 NOI.
  • 2,872 square feet on a 0.43-acre lot, built in 2008 and renovated in 2021.
  • Tenancy is a single, franchisee-operated Taco Bell, part of the large Ampler Restaurant Group.
  • Lease includes 10% rent increases every 5 years.

Property Details for 420 Virginia St

Property type
Other retail properties, Restaurants
Square Feet
2,872 SF
Year Built/Renovated
2008/2021
Lot Size (sq. ft)
18,731 SF

Location Insight

City
Crystal Lake
County
McHenry
State
Illinois
Latitude
42.2344412
Longitude
-88.3362524
420 Virginia St, Crystal Lake, Illinois

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420 Virginia St
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