3215 E Lincolnway - Freestanding FOR SALE
Sterling, IL 61081 |
3215 E Lincolnway
Sterling, IL 61081
HIGHLIGHTS
- 3215 E Lincolnway presents the opportunity to acquire a high-occupancy neighborhood shopping center surrounded by shadow anchors.
- Located at a signalized intersection of Route 2 and River Road with traffic counts of over 27,000 vehicles per day
- Thriving retail center with value-add upside alongside a hedge against inflation with built-in lease escalations.
- Since acquiring the property, ownership has injected a significant amount of capital including a new roof with a transferable 20-year warranty.
- Offers remarkable leasing momentum with three new leases signed and two existing tenants signing extensions within the last 12 months.
- Presents significant upside with the ability to sharply increase operational income by leasing the last two remaining vacancies.
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Value Add Neighborhood Retail Center
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
40880
STORIES
1
YEAR BUILT
1993
SPRINKLERS
-
PARKING SPACES
129
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
1114402020
