Scooter's Coffee | 1923 Glacier Park
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Scooter's Coffee 1923 Glacier Park
677 SF Retail Building Naperville, IL 60540 £1,196,120 (£1,767/SF) 6.65% Net Initial Yield
Investment Highlights
- Brand New 10-Year Ground Lease on a New Construction Scooter’s Coffee
- Situated in a Major Retail Corridor with New Major Developments | Outlot to Highly Frequented Marshall’s and Urban Air Trampoline and Adventure Park
- The Population Within One Mile Expanded 18.6% from 2010 to 2020
- 2024 Construction | Plans to Open Late Summer 2024
- Morning Side of Traffic | 2.3 Miles from the Interstate 88 Interchange - 131,500 Vehicles per Day | Accessible from Route 59 | 52,200 Vehicles per Day
- 236,917 People Live Within Five Miles | 132,221 People Work Within Three Miles
Executive Summary
Marcus & Millichap is pleased to exclusively offer a newly constructed Scooter’s Coffee with a 10-year ground lease. The lease includes attractive terms with 10% rental increases every five years, making it a solid investment opportunity with no landlord responsibilities. Construction is set to be completed in 2024, with the store planning to open in late summer. Scooter’s Coffee is a rapidly expanding drive-thru coffee franchise and has gained national recognition, ranking as a runner-up for Best Coffee Chain and Drive-Thru in the USA Today 2023 rankings, even beating out larger competitors like Dunkin’ and Starbucks.
The site benefits from heavy traffic patterns, particularly in the morning. It is located 2.3 miles from the Interstate 88 interchange, which sees 131,500 vehicles per day, and is easily accessible from Route 59, which carries 52,200 vehicles daily.
The property is located in a major retail corridor surrounded by significant new developments. It is an outlot to the highly frequented Marshall’s and Urban Air Trampoline and Adventure Park, which attract a combined 55,000 monthly visits according to Placer.ai. Nearby retailers include Target, Meijer, At Home, World Market, Best Buy, Planet Fitness, Menards, and Zen Leaf, among others. Fox Valley Mall, just 1.2 miles away, is currently undergoing renovations, with new luxury apartments being added. Recent and upcoming residential projects in the area include Lumon on Fox Valley, completed in 2022 with 304 units, Lucca Fox Valley, which broke ground in 2023 and is expected to be completed by early 2025 with 323 units, and Sophia at Fox Valley, a proposed development of 108 units. Additionally, Pacifica Square, an Asian lifestyle center located one mile away, is undergoing a major expansion, which will add five new buildings and additional shopping and dining options. The property is also located just 0.2 miles from a newly constructed Freddy’s Frozen Custard & Steakburgers.
This prime Naperville location is in an affluent suburb of Chicago. Within a five-mile radius, there are 236,917 residents, with the population within one mile growing by 18.6% between 2010 and 2020. Additionally, 132,221 people work within three miles of the property, and the average household income within five miles is $147,555. The location is also less than a mile from the Route 59 Metra Station, which provides easy access to downtown Chicago and other suburbs. The BNSF Metra line saw a 40.7% increase in ridership in 2023, with 6.17 million passengers using the line.
The site benefits from heavy traffic patterns, particularly in the morning. It is located 2.3 miles from the Interstate 88 interchange, which sees 131,500 vehicles per day, and is easily accessible from Route 59, which carries 52,200 vehicles daily.
The property is located in a major retail corridor surrounded by significant new developments. It is an outlot to the highly frequented Marshall’s and Urban Air Trampoline and Adventure Park, which attract a combined 55,000 monthly visits according to Placer.ai. Nearby retailers include Target, Meijer, At Home, World Market, Best Buy, Planet Fitness, Menards, and Zen Leaf, among others. Fox Valley Mall, just 1.2 miles away, is currently undergoing renovations, with new luxury apartments being added. Recent and upcoming residential projects in the area include Lumon on Fox Valley, completed in 2022 with 304 units, Lucca Fox Valley, which broke ground in 2023 and is expected to be completed by early 2025 with 323 units, and Sophia at Fox Valley, a proposed development of 108 units. Additionally, Pacifica Square, an Asian lifestyle center located one mile away, is undergoing a major expansion, which will add five new buildings and additional shopping and dining options. The property is also located just 0.2 miles from a newly constructed Freddy’s Frozen Custard & Steakburgers.
This prime Naperville location is in an affluent suburb of Chicago. Within a five-mile radius, there are 236,917 residents, with the population within one mile growing by 18.6% between 2010 and 2020. Additionally, 132,221 people work within three miles of the property, and the average household income within five miles is $147,555. The location is also less than a mile from the Route 59 Metra Station, which provides easy access to downtown Chicago and other suburbs. The BNSF Metra line saw a 40.7% increase in ridership in 2023, with 6.17 million passengers using the line.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
677 SF
Building Class
B
Year Built
2024
Price
£1,196,120
Price Per SF
£1,767
Net Initial Yield
6.65%
NOI
£79,542
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Lot Size
0.22 AC
Parking
7 Spaces (10.34 Spaces per 1,000 SF Leased)
Amenities
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 07-15-302-012 | Improvements Assessment | £0 |
Land Assessment | £32,509 | Total Assessment | £32,509 |
PROPERTY TAXES
Parcel Number
07-15-302-012
Land Assessment
£32,509
Improvements Assessment
£0
Total Assessment
£32,509
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Scooter's Coffee | 1923 Glacier Park
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