Ares - Cracker Barrel - Merrillville, IN

6200 Opportunity Lane, Merrillville, IN, 46410, US

Description

JLL presents a single-tenant Cracker Barrel property in Merrillville, IN with 15 years remaining on a 20-year absolute NNN lease with 1% annual rent increases. The property benefits from strategic I-65 positioning (115,000+ VPD), proximity to Chicago (30 miles), and location in a thriving market with $193M in construction value (2023). The area is experiencing a $1B+ data center boom with major tech companies investing. Cracker Barrel (Nasdaq: CBRL) generates strong $4.6M annual sales at this location with a healthy 4.25% rent-to-sales ratio. The investment features zero landlord obligations, an oversized 3+ acre parcel, average household income of $95K within a 1-mile radius, and 30% daytime population increase in the immediate area.

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Attributes

Building area net

774 sm

Year built

1989

Cap rate

5.85%

NOI

€166,000

WALT

15 years

Media

Investment highlights

Absolute NNN lease with 1% rent growth annually
15-Years (Initial lease term of 20 years with 15 years remaining)
Strategically located along I-65 (115,000+ VPD)
$95K Average Household Income (1-mile radius)
Oversized 3+ AC parcel size
Significant residential and commercial development (planned and completed)
The Property has strong sales of $4.6M with a healthy rent-to-sales ratio of 4.25%
Daytime population increase of 30% within a 1-mile radius