16767 Torrence Ave - Freestanding FOR SALE


Lansing, IL 60438
$2,500,000 USD
415-231-5231
16767 Torrence Ave, Lansing, IL for Sale
$2,500,000 USD
Freestanding - FOR SALE
1/7
null | 5.5% Cap Rate

16767 Torrence Ave
Lansing, IL 60438


HIGHLIGHTS

  • Corporate Guaranteed Ground Lease | Options To Extend | Scheduled Rental Increases
  • Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
  • Walking Distance To River Oaks Center | Primary Retail Corridor
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee (land ownership) in an absolute NNN leased, Chase Bank investment property located in Lansing, Illinois. The tenant, Chase Bank, has 5-years remaining on their original 20-year lease with 4 (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 a passive investor. As of June 2024, this branch has over $42MM of deposits, up from $24MM five years ago (75% Increase).

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$593 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chase Bank | Corp Abs NNN Ground Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2009

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

B3

APN/PARCEL ID

30-19-300-023-0000

ASK ABOUT THIS PROPERTY

Jeff GatesSRS Real Estate PartnersMore Info
415-231-5231

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Jeff GatesSRS Real Estate PartnersMore Info
415-231-5231

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