12861 S Harlem Ave - Auto Repair FOR SALE


Palos Heights, IL 60463
$1,539,000 USD
949-506-2007
12861 S Harlem Ave, Palos Heights, IL for Sale
$1,539,000 USD
Auto Repair - FOR SALE
1/8
null | 5.85% Cap Rate

12861 S Harlem Ave
Palos Heights, IL 60463


HIGHLIGHTS

  • 15-Year Lease | Franchisee Guaranteed | 10% Increases Every 5 Years
  • Absolute NNN Leased Ground Lease | Zero Landlord Responsibilities
  • Prime Retail Corridor | High-Traffic South Suburban Chicago Location
  • Attractive Market Demographics | Dense & Established Trade Area
  • Established Auto Service Brand | Driven Brands (NASDAQ: DRVN)

OVERVIEW

SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire a leased fee interest (land ownership) in an absolute NNN leased, Take 5 Oil investment property located in Palos Heights, Illinois. The tenant, TWO Oil 5, LLC signed a 15-year lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.

FOR SALE DETAILS

PRICE

$1,539,000 USD

PRICE/SF

$649 USD /SF

CAP RATE

5.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Take 5 Oil Change

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Auto Repair

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,553 SF

ZONING

B

APN/PARCEL ID

24-31-100-054-0000

ASK ABOUT THIS PROPERTY

Cortland LioiSRS National Net LeaseMore Info
949-506-2007

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Cortland LioiSRS National Net LeaseMore Info
949-506-2007

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