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501 East Algonquin Road

DosBros Fresh Mexican Grill Signs Lease For Retail Space In Algonquin, IL
LEASEDRetail

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

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

Rick Scardino

Lee & Associates

Broker

$11.8M

vol

21 deals

Broker

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