340 E Rollins Rd - Freestanding FOR SALE


Round Lake, IL 60073
$2,300,000 USD
340 E Rollins Rd, Round Lake, IL for Sale
$2,300,000 USD
Freestanding - FOR SALE
1/8
null | 6.17% Cap Rate

340 E Rollins Rd
Round Lake, IL 60073


HIGHLIGHTS

  • Below-Market Rent
  • Corporate Lease with healthy rental escalations
  • Long-Term Operating History
  • Future Re-Tenanting and Redevelopment Opportunity
  • Strategic Outparcel to Future Target, entertainment center and national tenants
  • Outstanding Retail Corridor | Unmatched Access/Visibility | Strategic Outparcel to Future Target, Entertainment Center & National Tenants

OVERVIEW

CBRE’s Net Lease Property Group-Midwest is pleased to present, as exclusive advisor, the opportunity to acquire a Harbor Freight Tools located at Rollins Crossing in Round Lake Beach, IL. Harbor Freight has been operating at this location since 2013 and is in its first of three renewal options. The corporate lease features healthy 10% rental increases in each of the two remaining 5-year options. Harbor Freight currently pays just $6.73 PSF, substantially under the average of $14.37 PSF among other Harbor Freight locations on the market. The Property benefits from its strategic position as an outparcel to Rollins Crossing, within the heart of the area’s dominant retail corridor featuring more than 1.7 million square feet of national and regional retailers. Fronting County East Rollins Road, a heavily trafficked east-west artery with traffic counts exceeding 27,000 vehicles per day, the site offers unmatched visibility and accessibility. Further enhancing the location’s long-term value, a new Target store is planned to open behind Harbor Freight, adding another major national anchor to the trade area and driving increased consumer traffic.

FOR SALE DETAILS

PRICE

$2,300,000 USD

PRICE/SF

$109 USD /SF

CAP RATE

6.17%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harbor Freight

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

31

LAND DETAILS

LAND ACRES

1.47 AC

LAND SF

64,168 SF

ZONING

C-2

APN/PARCEL ID

06-16-103-001

ASK ABOUT THIS PROPERTY

Michael KaiderCBRE, Inc.More Info

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Michael KaiderCBRE, Inc.More Info

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