3320 N Lewis Ave - Retail FOR SALE


Waukegan, IL 60087
$2,333,000 USD
949-942-6585
3320 N Lewis Ave, Waukegan, IL for Sale
$2,333,000 USD
Retail - FOR SALE
1/3
null | 6% Cap Rate

3320 N Lewis Ave
Waukegan, IL 60087


HIGHLIGHTS

  • New 10-Year Corporate Net Lease to Starbucks (NASDAQ: SBUX) 10% Scheduled Rent Increases in Primary Term & Options
  • 2023 Construction featuring a Drive-Thru Component & Outdoor Patio
  • Investment-Grade Tenant, Rated BBB+ by Standard & Poor's Prominent Retail Location with Monument Signage Along N Lewis Ave at its Intersection
  • Across from Target & Jewel-Osco Anchored Center (2M+ Annual Visits, per Placer.ai)
  • Within 2 Miles of Multiple Schools Totaling Nearly 1,700 Students
  • 44 Miles North of Downtown Chicago - MSA Population of 9.6 Million

OVERVIEW

New 10-year corporate net lease to Starbucks (NASDAQ: SBUX) with 10% scheduled rent increases in the primary term and option periods and limited landlord responsibilities. The property was constructed in 2023 and features a drive-thru component and outdoor patio. The subject property is located near the signalized hard-corner intersection of N Lewis Avenue and W Yorkhouse Road, which experience a combined traffic count of 29,700 vehicles per day. The site benefits from excellent visibility, significant street frontage, and a large pylon sign along N Lewis Avenue. The surrounding 5-mile trade area is home to approximately 150,000 residents and 43,000 employees, with an average household income of nearly $100,000, providing a strong and stable consumer base. The property sits outparcel to an Ace Hardware and Dollar Tree–anchored center, with additional national retailers in close proximity, including Target and Jewel-Osco (directly across), Taco Bell (adjacent), Burger King, T-Mobile, GNC, and more. The site is well-positioned near multiple schools and community amenities, generating consistent daily traffic. Nearby institutions include HR McCall Elementary (378 students), Little Fort Elementary (412 students), Oak Crest Elementary (430 students), and Howe Elementary (453 students). Additional nearby attractions such as Bevier Park & Sports Complex, Bonnie Brook Golf Course, and Greenshire Golf Course contribute to steady local activity. The property also benefits from proximity to several regional destinations, including Downtown Waukegan (4.5 miles), Waukegan Harbor & Marina (5 miles), the Lake County Forest Preserve & Greenbelt Cultural Center (6 miles), Six Flags Great America (7 miles), Great Wolf Lodge (8 miles), Gurnee Mills Mall (8.5 miles), and Pleasant Prairie Premium Outlets (12 miles).

FOR SALE DETAILS

PRICE

$2,333,000 USD

PRICE/SF

$989 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Freestanding, Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

16

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

08-05-104-015

ASK ABOUT THIS PROPERTY

Scott ReidParaSell, Inc.More Info
949-942-6585

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

Scott ReidParaSell, Inc.More Info
949-942-6585

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