300 Progress Dr - Freestanding FOR SALE
Oregon, IL 61061 |
$1,428,848 USD
207-752-4898
300 Progress Dr
Oregon, IL 61061
HIGHLIGHTS
- The subject property features an Absolute NNN lease with the tenant responsible for all taxes, insurance and maintenance obligations
- Per Alphamap’s brand ranking report, this location performs in the 83 rd percentile nationally (961 of 5,754 locations)
- Napa has historically operated below a 5% rent-to-sales ratio, further demonstrating this as a high-ranking location
- The original 20-year lease features 5% rental increases throughout the base term and starting in each of the four, 5-year option periods
- Due to the rising cost of construction, the lease and overall value of the property is significantly below the cost to redevelop
- Napa is the only Auto Parts retail in Oregon, IL with the next closest Auto Parts retailer over 12 miles away
FOR SALE DETAILS
PRICE
$1,428,848 USD
PRICE/SF
$181 USD /SF
CAP RATE
6.25%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Napa Auto Parts
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2014
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
LAND ACRES
1 AC
LAND SF
43,560 SF
ZONING
-
APN/PARCEL ID
16-02-153-004
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207-752-4898
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207-752-4898
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