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CVS 11859 Southwest Hwy 13,225 SF Retail Building Palos Heights, IL 60463 $4,713,896 CAD ($356.44 CAD/SF) 5.99% Cap Rate
INVESTMENT HIGHLIGHTS
- Long term single tenant CVS Ground Lease property, bring all offers
- Excellent demographics with over $145,000 average family income within a three mile radius.
- The property is in the middle of an established area surrounded by tremendous growth and affluent neighborhoods.
- Lease expires January 31, 2036 with (8) five year options with 10% increases in each option.
- Over 41,800 VPD at the intersection.
- Located directly on the high traffic signalized hard corner of a five way interchange of Southwest Hwy (IL Route 7), IL Route 83 and 80th Avenue.
EXECUTIVE SUMMARY
Located at the NEC of IL Route 83 and Southwest Hwy (IL Route 7) in Palos Heights, IL (suburban Chicago).
ANNUAL RENT: $203,500, owner wants offers
Lease expiration: January 31, 2036 with (8) 5-year options with 10% increases
Absolute NNN - NO LANDLORD MANAGEMENT OBLIGATIONS
Fixed 10% rental increases in each of the options.
No debt to assume.
Over 41,800 VPD at the intersection.
Over $120,000 average household income within a three mile radius.
ANNUAL RENT: $203,500, owner wants offers
Lease expiration: January 31, 2036 with (8) 5-year options with 10% increases
Absolute NNN - NO LANDLORD MANAGEMENT OBLIGATIONS
Fixed 10% rental increases in each of the options.
No debt to assume.
Over 41,800 VPD at the intersection.
Over $120,000 average household income within a three mile radius.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
13,225 SF
Building Class
C
Year Built
2010
Price
$4,713,896 CAD
Price Per SF
$356.44 CAD
Cap Rate
5.99%
NOI
$282,141 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.50 AC
Zoning
B - Business
Parking
68 Spaces (5.14 Spaces per 1,000 SF Leased)
Frontage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- CVS
- Retailer
- 13,225 SF
- -
- Triple Net
- Jan 2036
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| CVS | Retailer | 13,225 SF | - | Triple Net | Jan 2036 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $330,250 CAD | |
| Land Assessment | $280,455 CAD | Total Assessment | $610,705 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$280,455 CAD
Improvements Assessment
$330,250 CAD
Total Assessment
$610,705 CAD
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CVS | 11859 Southwest Hwy
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