Marcus & Millichap is very pleased to present a Buffalo Wild Wings investment opportunity, located at 5755 Northwest Highway in Crystal Lake, Illinois. This Buffalo Wild Wings is operated by a veteran franchisee with locations across the country. Additionally, the property was newly built in 2008 and consists of a 6,250-square foot building that sits on approximately 1.45 acres of land. The subject property will have a new 15-year absolute-net lease with zero landlord responsibilities; lease commences at the close of escrow. The base rent will be $250,000 annually and will be subject to 10 percent rental increases every five years. There are four, five-year tenant renewal options in addition to the 15-year base term. The tenant's operator, Wings Across America, LLC, is no stranger to running a successful franchise. Prior to its inception in April of 2002, the Company’s founder, John Weiler, owned and operated six Blockbuster stores. After successfully divesting from the video business in 1998, Mr. Weiler sought his next franchise opportunity and selected Buffalo Wild Wings after enjoying the concept and observing a profitable opportunity in the untapped Chicago market. Sales Info: ■ Cap rate: 6.26% ■ NOI: $250,000 Location Description: This investment opportunity is located in a high performing location at 5755 Northwest Highway in Crystal Lake, Illinois. Highlights: ■ New 15-Year Absolute-Net Lease | Four, Five-Year Options | Zero Landlord Responsibilities ■ Attractive 10 Percent Rent Escalations Every Five Years ■ High Performing Location: Sales in Excess of $3M | Low Rent-to-Sales: 7.95 Percent ■ 23-Store Veteran Operator ■ Strong Traffic Counts: 30,800 Cars per Day ■ Excellent Demographics: Population Over 129,000 in a Five-Mile Radius | Household Income Exceeds $105,252 in a Five-Mile Radius « show less
Marcus & Millichap is very pleased to present a Buffalo Wild Wings investment opportunity, located at 5755 Northwest Highway in Crystal Lake,... show more »
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