For Sale: Absolute Net Lease Investment - Dairy Queen | 19+ Years Remaining
954 Indianapolis Blvd
Hammond, IN 46320
Highlights
- Absolute Net lease Dairy Queen with strong personal guarantee
- 2020 construction with over 19 years remaining on Initial Term
- Strong Retail location anchored by Walmart Supercenter and Ross
- 15 miles from Downtown Chicago
- Nearby nationals include Starbucks, IHOP, Taco Bell, Midwest Express Clinic
- Located near Hammond Horseshoe Casino
Description
Latitude Commercial is pleased to offer for sale the fee simple interest in a recently constructed 3,367 SF Dairy Queen located in Hammond, IN. The subject property was constructed in 2020 with over 19 years remaining on the lease and 2 (5-year) option periods to extend, demonstrating their commitment to the site. The lease features 5% bumps every 3 years throughout the initial term and option periods, growing the NOI and hedging against inflation. The lease contains a strong personal guaranty from the franchisee and is absolute NNN with no Landlord responsibilities making this investment an ideal, management-free investment.
The asset is strategically located in a strong retail corridor in Hammond, IN near the Illinois border. The area has seen tremendous growth over the years and is located near Horseshoe Casino. The property is an outlot to a Walmart Supercenter that is ranked 4th in the state of Indiana and top 91% nationwide for annual store visits according to Placer Ai. Other nearby national tenants include Starbucks, Five Below, Ross, Taco Bell, Midwest Express Clinic and many more.
The subject property is located on the North side of Hammond, IN and right along the Illinois border.
Hammond is a city in Lake County, Indiana, United States. It is part of the Chicago metropolitan area. First settled in the mid-19th century, it is one of the oldest cities of northern Lake County. As of the 2010 United States census, it is also the largest in population: the 2010 population was 80,830, replacing Gary as the most populous city in Lake County. From north to south, Hammond runs from Lake Michigan down to the Little Calumet River; from east to west along its southern border, it runs from the Illinois state line to Cline Avenue. The city is traversed by numerous railroads and expressways, including the South Shore Line, Borman Expressway, and Indiana Toll Road.
