Qdoba has a brand new 10 year Absolute NNN lease with 10% rental escalations every 5 years and a personal guaranty from an experienced Qdoba operator with high net worth! The tenant, Gem City Fresh Mex, Inc. is an experienced 20 unit operator in Illinois, Indiana, Pennsylvania, Virginia and South Carolina. Qdoba has been operating at this location since 2008 with an attractive 8% rent-to-sales ratio and is in the process of a ±$150,000 renovation to Qdoba’s latest build out.
The subject property is located in East Peoria, Illinois, in a dense retail corridor and is a pad site to Walmart and Lowe’s. Qdoba is situated on a large 1.04 acre parcel across the street from a 226 room Embassy Suites & Conference Center. The property is within 3 miles of the University of Illinois College of Medicine at Peoria, Unity Point Health Methodist Hospital and Bradley University. Nearby retailers include Bass Pro Shops, Target, Gordmans, Costco Wholesale, Kohl’s, PetSmart, ALDI, Kroger, Ross Dress for Less, Harbor Freight Tools, Bob’s Stores, Dollar Tree, Advance Auto Parts, Goodwill, Planet Fitness and more.
*In Association With: Tarrant & Harman Real Estate and Auction