Absolute Net Lease Investment - Hooters | 11+ Years Remaining

The subject property is located within the Ameriplex development in Portage, IN. Strategically located just off 80-94, Ameriplex is a 385 acre mixed use development located 1 mile from access to Lake Michigan. The property consists of Industrial space, fast food and casual dining, hotels, gas station and office use. Portage is a thriving city located in Porter County, Indiana, and is one of the largest communities in Northwest Indiana. Ideally positioned near major transportation corridors and the southern shore of Lake Michigan, Portage offers convenient access throughout the region and to the greater Chicago market. The city features an extensive park system with recreational opportunities including sports, trails, hiking, and water activities. The Sammie L. Maletta Public Marina provides public boat launches and slips with direct access to Burns Waterway and nearby Lake Michigan, adding to Portage’s strong quality of life and recreational amenities.Latitude Commercial is pleased to present the opportunity to acquire a single-tenant Hooters investment located in Portage, Indiana. The property was purpose-built for Hooters in 2017 utilizing the brand’s newer prototype design and is secured by a long-term Absolute NNN lease through October 31, 2037, providing approximately 11 years of remaining lease term with scheduled rental increases and four additional five-year renewal options. The lease provides for a highly passive ownership structure, with the tenant responsible for virtually all property-level expenses, maintenance, repairs and replacements, including the roof, structure, HVAC and parking areas. The Portage location has established a strong operating history within the Northwest Indiana market. Notably, the restaurant remained open through Hooters’ nationwide portfolio rationalization, during which the company closed numerous underperforming locations, demonstrating continued commitment to this location. The surrounding trade area has also experienced substantial recent investment and development, including the addition of concepts such as Culver’s and Olive Garden. Positioned just off Interstate 94, the property benefits from excellent regional accessibility, a growing commercial corridor and a modern, purpose-built restaurant facility. The combination of long-term contractual income, scheduled rent growth, minimal landlord obligations and strong underlying real estate creates a compelling net-leased investment opportunity.