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1500 IL-37
Marion, IL 62959
CareVet of Southern Illinois | NNN | 5 Years · Retail Property For Sale
Investment Highlights
- MORE THAN 5 YEARS REMAINING | ANNUAL RENTAL INCREASES | REPUTABLE OPERATOR
- STRONG DEMOGRAPHICS IN 5-MILE TRADE AREA | HIGH BARRIERS TO ENTRY SUBMARKET | PROXIMITY TO LAKE OF EGYPT
- EXCELLENT VISIBILITY | LOCATED OFF IL-37 | LOCATED ALONG MAJOR THOROUGHFARE
- LIMITED LANDLORD RESPONSIBILITIES | LOW-MANAGEMENT
Executive Summary
TWG is pleased to offer the opportunity to acquire the fee simple interest (land and building ownership) in a NNN leased, freestanding, CareVet of Southern Illinois investment property located in Marion, Illinois. The Tenant, CareVet, has over 5 years remaining in their initial term with 2 five (5) year options to extend. The lease features 2% annual rental increases. The lease is a triple net with limited landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 2018, CareVet is an established network of veterinary hospitals with over 200 practices across 30 states. CareVet recently announced that they are investing $75 million in its facilities in the next five years.
CareVet of Southern Illinois is strategically located on IL-37 S. The site benefits from superior visibility via significant street frontage and a pylon sign with an LED screen situated along IL-37 S. It shares this busy Marion area with businesses like Subway, Wendy’s, Marathon, Dollar General. The location benefits from the frequent street traffic of IL-37 S, which sees 6,571 vehicles daily. The 5-mile trade area is supported by a population of 7,940 and 1,195 daytime employees with an average household income of $106,659.
CareVet of Southern Illinois is strategically located on IL-37 S. The site benefits from superior visibility via significant street frontage and a pylon sign with an LED screen situated along IL-37 S. It shares this busy Marion area with businesses like Subway, Wendy’s, Marathon, Dollar General. The location benefits from the frequent street traffic of IL-37 S, which sees 6,571 vehicles daily. The 5-mile trade area is supported by a population of 7,940 and 1,195 daytime employees with an average household income of $106,659.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,400 SF
Building Class
C
Year Built
2015
Price
$1,510,870 CAD
Price Per SF
$343.38 CAD
Cap Rate
7.33%
NOI
$110,747 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.05
Lot Size
2.00 AC
Parking
27 Spaces (6.14 Spaces per 1,000 SF Leased)
Frontage
136’ on Illinois 37
Property Taxes
| Parcel Number | 10-27-300-004 | Improvements Assessment | $188,203 CAD |
| Land Assessment | $12,832 CAD | Total Assessment | $201,035 CAD |
Property Taxes
Parcel Number
10-27-300-004
Land Assessment
$12,832 CAD
Improvements Assessment
$188,203 CAD
Total Assessment
$201,035 CAD
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