487 W Virginia St - Freestanding FOR SALE


Crystal Lake, IL 60014- East Suburban McHenry
$769,231 USD
312-957-7212
487 W Virginia St, Crystal Lake, IL for Sale
$769,231 USD
Freestanding - FOR SALE
1/5
null | 6.5% Cap Rate

487 W Virginia St
Crystal Lake, IL 60014
East Suburban McHenry


HIGHLIGHTS

  • Lease Term
  • Attractive Rent Increases
  • Dynamic Tenant
  • Zero Management Responsibilities
  • Potential Bonus Depreciation
  • Prime Retail Location

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase a single tenant Take 5 Oil Change located at 487 W Virginia Street in Crystal Lake, Illinois (the “Property”). This is a sale-leaseback of a free-standing single tenant Take 5 Oil Change consisting of a single-story 1,984 square foot building with two (2) automotive bays and an office/retail area on a 0.40-acre corner parcel. Take 5 Oil Change will sign a new 15-year Absolute NNN Lease, with three (3), 5-year renewal options upon the close of escrow. The lease calls for attractive 1.5% annual increases in rent throughout the base term and each of the renewal options. The property is extremely well located along W Virginia Street (US Route 14) adjacent to the signalized intersection with Dole Avenue. US Route 14 is the area’s primary commercial and commuter corridor. The Property enjoys outstanding visibility and frontage and is within 1 mile of a dense trade area that is home to large shopping centers, grocers, and national and local retailers, restaurants, and businesses, all of which drive traffic to the area. Additionally, the Property is within minutes of several area schools and is surrounded by residential neighborhoods providing a built-in customer base.

FOR SALE DETAILS

PRICE

$769,231 USD

PRICE/SF

$388 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Take 5 Oil Change

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

SPRINKLERS

-

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.4 AC

LAND SF

17,424 SF

ZONING

B-2

APN/PARCEL ID

19-06-277-003

ASK ABOUT THIS PROPERTY

Michael MintzHorvath & TremblayMore Info
312-957-7212

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Michael MintzHorvath & TremblayMore Info
312-957-7212

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