Denny's

1130 South Illinois Street, Belleville, IL 62220

$1,476,000

Cap Rate 6.50%

DOM: 139 Updated: 04.01.24 Posted: 10.12.23 Status: Sold 02.28.24

Summary

Price $1,476,000	Built/Renov 1975/2016	Tenant Denny's
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Franchisee
Size/SF 4,547	Lease Start 01-01-2024	#Units 8
Price/SF $324.61	Expiration 12-31-2038	Tenant Type Casual Dining
NOI $96,000	R. Term 13.7	Ownership Fee Simple
Rent/SF $21.11	Increases 1.5%/1/yrs	Pop 5Mi 79,724
Lot/AC 1.07	Options 4/5yrs/1.5%	AHHI 5Mi $81,777

Peter Deltondo

Marcus & Millichap

Contact

Lease Highlights

Denny's will execute a brand-new 15-year lease with 4 (5-year) options to renew upon close of escrow
The lease features annual 1.5% rent increases
Absolute NNN lease | Zero landlord responsibilities
Lease guaranteed by T&S Foodservices II, LLC

Location Description

Denny's is conveniently located on South Illinois Street, with a daily traffic count of 16,400 vehicles. The property is prominently situated along State Highway 15, which sees a daily traffic count of 21,400 vehicles and serves as the main route to St. Louis. Additionally, it is just 4 miles east of Southwestern Illinois College. Adjacent to the restaurant is the Belle-Clair Fairground & Expo...

...

Key Features

Major thoroughfare
Highway location
University college close
Top 100 MSA
Brand new lease
Long 15+ yr lease
Absolute NNN
Annual rent increases
Personal guarantee
Publicly traded company

...

Links

Denny's Wikipedia Denny's Wikipedia Belleville, Illinois Zip Code 62220 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Denny's
Guarantor:Franchisee
Company:T&S Foodservices
# Units:8
Stock: NASDAQ: DENN

About Tenant

Denny's, or Denny's Corp (NASDAQ: DENN), is one of America’s largest full-service restaurant chains based on number of restaurants. Founded by Harold Butler and Richard Jezak, who opened...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,106	37,152	78,318
2023 Total Population :	6,206	37,791	79,386
2023 Employed Civilian Pop :	3,065	18,610	39,343
2023 Total Businesses :	451	1,378	2,476
2023 Average Household Income :	$ 79,997	$ 77,845	$ 91,016
2023 Total Consumer Spending :	$ 180 M	$ 1092 M	$ 2645 M
2023 Median Age :	39	40	40
2023 Total Households :	2,602	16,146	33,694
2023 Pop Age 25+: Bachelor's Degree :	616	4,510	11,128
2023 Average Home Value :	$ 153,703	$ 145,062	$ 186,413

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
IL 159	State Hwy15	2021	14,600	0.05 mi
S Illinois St	State Hwy15	2005	18,900	0.09 mi
		2018	1,100	0.10 mi
State Rte 15	S Illinois St	2018	6,000	0.11 mi
State Rte 15	S Illinois St	2005	24,100	0.13 mi
	S Illinois St	2019	6,650	0.14 mi
South Church Street	12th St S	2018	175	0.16 mi
W Taft St	Fairwood Dr	2018	6,000	0.16 mi
S Illinois St	State Hwy15	2005	12,400	0.16 mi
S Belt E	S High St	2011	17,400	0.17 mi

Listing Broker

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT