1243-1249 Torrence Ave - Restaurant FOR SALE


Calumet City, IL 60409
$4,500,000 USD
424-317-0308
1243-1249 Torrence Ave, Calumet City, IL for Sale
$4,500,000 USD
Restaurant - FOR SALE
1/4
null | 7.19% Cap Rate

1243-1249 Torrence Ave
Calumet City, IL 60409


HIGHLIGHTS

  • Located along an extremely busy Commercial Corridor!
  • Drive Thru Starbucks with incredible co tenants Vitamin Shoppe, Game Stop and Verizon
  • Dense location with over 250,000 people in a 5 mile radius!
  • Massive Developments underway in the immediate area including the River Oaks, Blues Water Run, and the new potential Stadium!

OVERVIEW

Ally Commercial Real Estate in conjunction with CPP CRE is pleased to present the exclusive sale of Torrence Avenue Shops—a 100% occupied, trophy retail strip. Anchored by Starbucks (Drive-Thru), Verizon, Vitamin Shoppe, and GameStop, this center represents the gold standard of national-brand retail investment. Strategically located at a signalized hard corner, the property commands massive traffic flow due to it’s proximity to the River Oaks Shopping center, which is regional economic driver in the southland of Chicago. The city is also proposing a $110 MM plan to update the center. This stabilized investment delivers a secure NOI of $323,453 at a 7.19% CAP Rate.The site’s strength is also proven by its tenancy: Vitamin Shoppe recently extended its lease through 2030, and the Starbucks drive-thru provides a constant, recession-proof draw for the trade area. Furthermore, the Vitamin Shoppe lease reverts to NNN in its option periods, maximizing long-term investor returns and minimizing expense leakage. All other tenants other than Vitamin Shoppe are on NNN leases making this property a premier turnkey opportunity for an investor seeking passive income in a thriving, high-growth corridor.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$499 USD /SF

CAP RATE

7.19%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Drive Thru Starbucks Strip Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

ADD'L SUBTYPES

Fast Food, Freestanding, undefined

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

49

LAND DETAILS

LAND ACRES

0.76 AC

LAND SF

33,201 SF

ZONING

-

APN/PARCEL ID

30-19-100-099-0000

ASK ABOUT THIS PROPERTY

Eric MandellAlly Commercial Real EstateMore Info
424-317-0308

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Eric MandellAlly Commercial Real EstateMore Info
424-317-0308

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