1099 N Cole St - Retail FOR SALE


Bushnell, IL 61422
$1,147,674 USD
734-755-6359
1099 N Cole St, Bushnell, IL for Sale
$1,147,674 USD
Retail - FOR SALE
1/7
null | 10.75% Cap Rate

1099 N Cole St
Bushnell, IL 61422


HIGHLIGHTS

  • Family Dollar is Dark but Still Paying Rent
  • 10 Year NN Lease Requiring Minimal Landlord Responsibilities
  • 2023 BTS Construction | 10 Mile Population 7,090
  • Corner Location | Concrete Parking Lot
  • Across From Brand New Dollar General Market | On Main Thoroughfare
  • 2,686 Cars Per Day at Cole Street and Smith Street

OVERVIEW

Fortis Net Lease is pleased to present this 10,500 SF. freestanding Family Dollar located in Bushnell, Illinois. Family Dollar is dark but still paying rent per the Lease. The property offers a Double Net (NN) Lease, leaving minimal landlord responsibilities. The lease contains 4 (5 year) options to renew, each with a $0.50 PSF rental rate increase. The lease is corporately guaranteed. The store has completed construction in June 2023. This building is highly visible as it is strategically positioned on the corner of Cole Street and Smith Street which sees 2,686 cars per day. It sits across the street from a new Dollar General Market store on the main thoroughfare through the city. The ten mile population from the site is 7,090 while the three mile average household income is $55,315 per year, making this location ideal for a new tenant. The Subject offering represents an ideal opportunity for a 1031 exchange buyer. This investment will offer a new owner continued success due to the desirable location, newer construction, with tons of potential!. List price reflects a 10.75% cap rate based on NOI of $123,375.

FOR SALE DETAILS

PRICE

$1,147,674 USD

PRICE/SF

$109 USD /SF

CAP RATE

10.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar (Dark)

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

-

APN/PARCEL ID

03-000-069-15

ASK ABOUT THIS PROPERTY

Bryan BenderFortis Net LeaseMore Info
734-755-6359

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Bryan BenderFortis Net LeaseMore Info
734-755-6359

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.