Buddy’s Home Furnishings

704-708 N. Gilbert Street

Danville, IL

Properties Details

The subject property is a single tenant double net Buddy’s Home Furnishings situated along the main retail corridor in Danville, IL. The property is being offered at an attractive 8.5% cap rate with approximately 3 ½ years remaining on a ten year lease (ex. 1/1/2027). The tenant had a rent increase after year five and has a 13% rent increase in their five year option period. The landlord is responsible for the roof and structure, the tenant takes care of routine maintenance including snow removal and landscaping. The lease is guaranteed by the franchisee, Reddi Rents, LLC and their entity Bhvani, LLC which covers all of the franchisees locations. The franchisee owns and operates four Buddy’s Home Furnishings locations the franchisor is Buddy’s Franchising and Licensing, LLC (for more information see Tenant Profile).

Property Highlights

  • Price: $920,000
  • Cap Rate: 8.5%
  • Lease Type: NN
  • Lease Commencement: 7/1/2016
  • Lease Expiration: 6/30/26
  • Increases: Option Period
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