203 W Front St - Freestanding FOR SALE


Annawan, IL 61234
$815,000 USD
614-961-9943
203 W Front St, Annawan, IL for Sale
$815,000 USD
Freestanding - FOR SALE
1/7
null | 7.51% Cap Rate

203 W Front St
Annawan, IL 61234


OVERVIEW

- Corporate Guaranteed | Backed by Hammond Henry Hospital which Services Over 30,000 People with Five Locations + Over 500 Employees | Total Patient Revenue In Excess of $145m - NNN Lease | Zero Landlord Responsibilities | Tenant Responsible for Roof & Structure | Tenant Pays All Expenses Directly - Rapidly Growing Net Operating Income | 1.5% Annual Rental Increases | Major Hedge Against Inflation 6-Years Remaining on Initial 12-Year Lease | Lease Term Through 4/30/2032 | 8.10% CAP By End of Initial Term Very Modest Rent of Only $15.90/SF | Remains Sub-$20/SF By End of Final Option (2nd Option) | Upside Potential Bringing Tenant to Higher Rent - Only Urgent Care/Health Care Option within 15-Min Radius | Dominant Market Control Catering Extremely Well to Regional Demographics - Relocation Site within Market | Extremely Sticky Tenant with Hefty Capital Injection by Tenant to Build Out Space in 2020 | Expanded Services - Hammond-Henry Hospital has been Operating for Over 125 Years | 45% Market Share Across Henry County & Surrounding Rural Communities - Two, 5-Year Option Terms Remaining | Include 1.5% Annual Increases | 8.8% CAP By End of 1st Option | 9.4% CAP by End of 2nd Option

FOR SALE DETAILS

PRICE

$815,000 USD

PRICE/SF

$212 USD /SF

CAP RATE

7.51%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Hammond Henry Urgent Care

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1994

SPRINKLERS

-

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.26 AC

LAND SF

11,326 SF

ZONING

B-2

APN/PARCEL ID

15-03-378-014

ASK ABOUT THIS PROPERTY

Zachary TurnerMarcus & MillichapMore Info
614-961-9943

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Zachary TurnerMarcus & MillichapMore Info
614-961-9943

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