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1606 E Empire Street - Empire Crossing - Petsmart, Bloomington, IL

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1606 E Empire Street - Empire Crossing - Petsmart

Bloomington, IL 61701

Property Type:Retail Sub Type:- Status:Existing Year Built:-
Building Size:23,378 SF Land Area:2.27 AC (98,816 SF)
For Sale Price:$6,025,000 Price/SF:$257.72
Cap Rate:6.50 %
Parking:195 Surface spaces are available; Ratio of 8.46/1,000 SF

Sale Notes:
Stan Johnson Company is pleased to offer for sale this PetSmart located in Bloomington, IL. The Tenant recently signed a brand new 10-year lease in exchange for a freshly remodeled building to fit PetSmart' s prototypical store format. The seller installed a new roof, new signage, and new HVAC, providing a fresh new look to an already well established shopping center.
The lease offers a brand new 10-year primary term with $1.00/SF rent increases (approximately 6%) every 5 years. Landlord has limited responsibility to capital expenditures only with new warranties in place. The Site is part of the Colonial Plaza Shopping Center located immediately north of Eastland Mall at Veterans Pkwy and East Empire St (combined 61,600 VPD). It is managed entirely by the neighboring owner, making this a truly passive investment.

Stan Johnson Company
Tom Fritz
(312) 240-0127

Matt Spangenberg
(312) 240-0127

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