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CONVENT RETAIL CENTER | 7.50% Cap Rate 511 N Convent St 9,782 SF 100% Leased Retail Building Bourbonnais, IL 60914 $3,049,430 CAD ($311.74 CAD/SF) 7.50% Cap Rate
Investment Highlights
- 100% Occupied Retail Center w/ Three Long Term Established Tenants In Place, Eliminating Lease-Up Risk & Providing Stable Income from Day One
- Strong Tenant Mix | E-Commerce Resistant Tenant Mix | All Tenants Operating on NNN Leases with Rental Increases
- Minutes to I-57 Full Interchange
- 65% of the Retail Center is Leased to a National Corporate Backed Tenant
- Situated on N Convent Street (US Rt 52) - One of the Primary Thoroughfares in Bourbonnais | Excellent Frontage, High Visibility, & Easy Access Site
- Low Kankakee County Taxes
Executive Summary
• 9,782 SF Fully Leased Multi-Tenant Retail Center Opportunity
• 100% Occupied Retail Center w/ Three Long Term Established Tenants In Place, Eliminating Lease-Up Risk & Providing Stable Income from Day One
• 65% of the Retail Center is Leased to a National Corporate Backed Tenant
• Strong Tenant Mix | E-Commerce Resistant Tenant Mix
• All Tenants Operating on NNN Leases with Rental Increases
• Excellent Frontage, High Visibility, & Easy Multi-Access Site
• Situated on N Convent Street (US Rt 52) - One of the Primary Thoroughfares in Bourbonnais
• 174’ Linear Feet Frontage Along N Convert St | Offering 19,800 VPD at your Footsteps
• Nearby Pre-K through 12 Schools & Olivet Nazarene University Drives Consistent Daily Traffic & Brand Engagement
• Prime Positioned Site Near Heavily Traveled Stoplight Intersection of N Convert Street & E Armour Rd Offering Outstanding Frontage & High Visibility | Offering Combined 38,200 VPD
• There are 65,175 Residents Earning an Average Household Income of $88,581 within a 5-Mile Radius. The Subject Property Pulls from an Extended Trade Area Including Bradley, Kankakee, Momence, Manteno, and Otto
• Nearby Huge Traffic Generators: Kroger, Presence Health, Ace Hardware, Jewel Osco, Village Hall, Target, Walmart, Dick’s Sporting Goods, Menards, Lowes, Walgreens, Blair’s Farm & Fleet, & Northfield Square Mall
• Close Proximity to Multiple Residential Communities, Local Businesses, Schools, Bradley-Bourbonnais Community High School (1,914 Students/126 Faculty), & Olivet Nazarene University (ONU), a Liberal Arts University w/ Over 3,500 Students
• Ample Residential Rooftops Surround Site
• Minutes to I-57 Full Interchange
• Priced Below Replacement Cost @ $223.37
• Low Kankakee County Taxes - Allowing Purchasers to Invest in a Retail Asset w/ Lower Exposure to Real Estate Tax Expenses
• Priced at a 7.50% Cap Rate
• 100% Occupied Retail Center w/ Three Long Term Established Tenants In Place, Eliminating Lease-Up Risk & Providing Stable Income from Day One
• 65% of the Retail Center is Leased to a National Corporate Backed Tenant
• Strong Tenant Mix | E-Commerce Resistant Tenant Mix
• All Tenants Operating on NNN Leases with Rental Increases
• Excellent Frontage, High Visibility, & Easy Multi-Access Site
• Situated on N Convent Street (US Rt 52) - One of the Primary Thoroughfares in Bourbonnais
• 174’ Linear Feet Frontage Along N Convert St | Offering 19,800 VPD at your Footsteps
• Nearby Pre-K through 12 Schools & Olivet Nazarene University Drives Consistent Daily Traffic & Brand Engagement
• Prime Positioned Site Near Heavily Traveled Stoplight Intersection of N Convert Street & E Armour Rd Offering Outstanding Frontage & High Visibility | Offering Combined 38,200 VPD
• There are 65,175 Residents Earning an Average Household Income of $88,581 within a 5-Mile Radius. The Subject Property Pulls from an Extended Trade Area Including Bradley, Kankakee, Momence, Manteno, and Otto
• Nearby Huge Traffic Generators: Kroger, Presence Health, Ace Hardware, Jewel Osco, Village Hall, Target, Walmart, Dick’s Sporting Goods, Menards, Lowes, Walgreens, Blair’s Farm & Fleet, & Northfield Square Mall
• Close Proximity to Multiple Residential Communities, Local Businesses, Schools, Bradley-Bourbonnais Community High School (1,914 Students/126 Faculty), & Olivet Nazarene University (ONU), a Liberal Arts University w/ Over 3,500 Students
• Ample Residential Rooftops Surround Site
• Minutes to I-57 Full Interchange
• Priced Below Replacement Cost @ $223.37
• Low Kankakee County Taxes - Allowing Purchasers to Invest in a Retail Asset w/ Lower Exposure to Real Estate Tax Expenses
• Priced at a 7.50% Cap Rate
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,782 SF
Building Class
C
Year Built
1995
Price
$3,049,430 CAD
Price Per SF
$311.74 CAD
Cap Rate
7.50%
NOI
$228,707 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.26
Lot Size
0.87 AC
Zoning
B-2
Parking
50 Spaces (5.11 Spaces per 1,000 SF Leased)
Frontage
174’ on N Convent St
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Monument Signage
Fairly walkable
50/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 17-09-18-410-001 | Improvements Assessment | $305,964 CAD |
| Land Assessment | $103,140 CAD | Total Assessment | $409,104 CAD |
Property Taxes
Parcel Number
17-09-18-410-001
Land Assessment
$103,140 CAD
Improvements Assessment
$305,964 CAD
Total Assessment
$409,104 CAD
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CONVENT RETAIL CENTER | 7.50% Cap Rate | 511 N Convent St
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