Shoppes at Schererville
711 U.S. 41, Schererville, IN, 46375, US
138,289 sf
Description
JLL is pleased to exclusively offer for sale the Checkers and Rally’s Portfolio, which comprises seven quick service restaurant locations totaling 5,272 SF across various cities in Indiana (the “Portfolio” or “Properties”). The Properties are 100% occupied by Checkers Drive-in Restaurants, Inc. or its franchisees (“Tenant”) and three of the sites have corporate guaranties. Checkers is a national quick service restaurant chain known for burgers, fries, and value-focused menu offerings. Headquartered in Tampa, FL, Checkers and Rally’s operates over 740 retail stores across 28 states.
This opportunity offers investors the ability to acquire a diverse Indiana net lease portfolio featuring assets occupied by a well-established and proven national brand. The portfolio has 1.9 years of weighted average lease term remaining and minimal landlord expense responsibilities, creating a unique opportunity to control a portfolio of shorter-term net lease assets with exposure to a reputable restaurant brand with a national footprint and potential re-lease upside at higher rates upon expiration of the current leases.
Broker of Record: Ken Martin - IN License No. RB19001364
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Attributes
Asking price
$4,580,000
Cap rate
8%
Building area gross
5,272 sf
Occupancy
100%
Land area gross
3.82 acres
WAULT
1.9 years
Rally's / Checkers Indiana Portfolio (7 Properties)
Rally's / Checkers Indiana Portfolio (7 Properties)
Media
Investment highlights
Diversified Portfolio Scale
• Geographic diversification across 7 Indiana cities
• Established locations in key markets: Terre Haute, Hammond, Gary, Fort Wayne, Jasper, Michigan City
Strong National Brand
• 742+ locations across 28 states with proven operating model
• Dual drive-thru format optimized for efficiency and throughput
• Strong brand recognition and plans for expansion into underserved markets
Attractive Lease Structure with Minimal Landlord Responsibilities
• Triple net lease with 10% escalations every five years
• Multiple renewal options of five years with built-in rent increases
• Minimal landlord expense responsibilities
• Three of the sites have a corporate guaranty
Value-Add Opportunity
• Shorter-term lease profile creates mark-to-market upside potential
• Strategic locations on major arterials with high traffic counts
• Positioned in markets with stable demographics
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