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- LoopNet Team
6904 Argus Dr
Rockford, IL 61107
Hooters · Retail Property For Sale
Investment Highlights
- Corporate guaranty
- Attractive 10% rental increases every 5 years
- Absolute NNN with zero landlord responsibilities
- Hooter's exercised its lease early in 2016 for an additional 10 years
- Outparcel to Home Depot
PROPERTY FACTS
About 6904 Argus Dr , Rockford, IL 61107
Hooter's is located at the signalized intersection of North Perryville Road and Argus Drive, directly in front of a Home Depot anchored center that also includes Sumberland Furniture. The property is in a dense retail corridor featuring tenants such as Lowe's, Best Buy, Ross, Target, HomeGoods, Hobby Lobby, Aldi, Carter's, Ulta, Dick's Sporting Goods, Burlington Coat Factory, PetSmart, Kohl's, Marshall's, plus many more. Two miles west of Hooters is Rockford University (1,300 students) and OSF Saint Anthony Medical Center (254-bed). Hooters signed a 20-year lease in 2000 and renewed early in 2016 for an additional 10 years of term, showing its commitment to the site. This is absolute NNN lease with zero landlord responsibilities, has attractive 10% rental increases every 5 years. The lease is corporately guaranteed by Hooters, which was founded in 1983 and is headquartered in Atlanta, Georgia.
PROPERTY TAXES
| Parcel Number | 12-22-427-019 | Improvements Assessment | £142,454 |
| Land Assessment | £117,044 | Total Assessment | £259,498 |
PROPERTY TAXES
