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Modern Retail Property for Sublease 320 S Adams St 10,527 SF of Retail Space Available in Manito, IL 61546
SPACE AVAILABILITY (1)
Display Rental Rate as
- SPACE
- SIZE
- TERM
- RENTAL RATE
- RENT TYPE
| Space | Size | Term | Rental Rate | Rent Type | ||
| 1st Floor | 10,527 SF | Negotiable | $11.17 CAD/SF/YR $0.93 CAD/SF/MO $117,559 CAD/YR $9,797 CAD/MO | Triple Net (NNN) |
1st Floor
Property Description Coldwell Banker Commercial Devonshire Realty is pleased to offer this freestanding retail property for sublease. The property spans almost an acre over two lots, providing ample parking with the lots redeveloped and new building constructed within the last 18 months. The current lease extends until July 31, 2032. This property features a triple net lease, under which the existing tenant is responsible for maintaining insurance, all maintenance, and property taxes in addition to the base rent, although the tenant is willing to negotiate a modified gross lease structure with the subtenant. Gross rate to be determined by the collective terms and responsibilities of the offer. Area Description 320 S Adams St is centrally located in the heart of Manito, a village in Mason County with a population of approximately 1,552. Manito is primarily an agricultural community, with most local businesses connected to farming and related industries. The village offers various amenities, including schools, recreational facilities, hunting and fishing areas, and active civic organizations. Located about 27 miles southwest of Peoria, Manito provides access to a larger urban center while maintaining its strong agricultural roots, which continue to shape its economy and community activities.
- Sublease space available from current tenant
- Lease rate does not include utilities, property expenses or building services
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
SELECT TENANTS AT MODERN RETAIL PROPERTY FOR SUBLEASE
- TENANT
- DESCRIPTION
- US LOCATIONS
- REACH
- Family Dollar
- Dollar/Variety/Thrift
- 9,663
- National
| TENANT | DESCRIPTION | US LOCATIONS | REACH |
| Family Dollar | Dollar/Variety/Thrift | 9,663 | National |
PROPERTY FACTS
| Total Space Available | 10,527 SF | Gross Leasable Area | 10,527 SF |
| Property Type | Retail | Year Built | 2023 |
| Property Subtype | Freestanding | Parking Ratio | 3.49/1,000 SF |
| Total Space Available | 10,527 SF |
| Property Type | Retail |
| Property Subtype | Freestanding |
| Gross Leasable Area | 10,527 SF |
| Year Built | 2023 |
| Parking Ratio | 3.49/1,000 SF |
ABOUT THE PROPERTY
Coldwell Banker Commercial Devonshire Realty is pleased to offer this freestanding retail property for sublease. The property spans almost an acre over two lots, providing ample parking with the lots redeveloped and new building constructed within the last 18 months. The current lease extends until July 31, 2032. This property features a triple net lease, under which the existing tenant is responsible for maintaining insurance, all maintenance, and property taxes in addition to the base rent, although the tenant is willing to negotiate a modified gross lease structure with the subtenant. Gross rate to be determined by the collective terms and responsibilities of the offer. Area Description 320 S Adams St is centrally located in the heart of Manito, a village in Mason County with a population of approximately 1,552. Manito is primarily an agricultural community, with most local businesses connected to farming and related industries. The village offers various amenities, including schools, recreational facilities, hunting and fishing areas, and active civic organizations. Located about 27 miles southwest of Peoria, Manito provides access to a larger urban center while maintaining its strong agricultural roots, which continue to shape its economy and community activities.
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Modern Retail Property for Sublease | 320 S Adams St
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