DosBros Fresh Mexican Grill Signs Lease For Retail Space In Algonquin, IL
501 East Algonquin Road
Building Size
2,477 SF
Asset Type
Retail
Closing
Oct 18, 2023
AI
The transaction involved a lease agreement for a retail property located at 501 East Algonquin Road in Algonquin, IL. The property spans across 2,477 square feet and is situated in a strip center.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: Not mentioned
- Address: 501 East Algonquin Road
- Market: Algonquin
- Landlord: Zurich Partners, LLC
- Tenant: DosBros Fresh Mexican Grill
- Landlord's Representative: Michael Petrik & Rick Scardino - Lee & Associates
- Tenant's Representative: Chuck Whitlock - Baum Realty Group
The lease agreement was negotiated by Lee & Associates on behalf of the landlord, Zurich Partners, LLC. DosBros Fresh Mexican Grill, a growing chain, will repurpose a former convenience store within the strip center. Representing the tenant, Chuck Whitlock of Baum Realty Group played a key role in the transaction.
Players
Algonquin Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93