505 N Route 49 - Supermarket FOR SALE


Casey, IL 62420
$1,134,915 USD
773-963-2637
505 N Route 49, Casey, IL for Sale
$1,134,915 USD
Supermarket - FOR SALE
1/3
null | 8.85% Cap Rate

505 N Route 49
Casey, IL 62420


HIGHLIGHTS

  • Brand New, Long-Term Net Lease with Escalations
  • 2023 Renovations to Existing 16K+ SF Building
  • Concrete Parking Lot
  • Strong Access & Visibility – Near Local Schools

OVERVIEW

Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the Family Dollar property located in Casey, IL (the “Property”). The Property consists of a 16,240-square-foot freestanding retail building on a 1.73-acre parcel of land. Family Dollar operates under a 10-year, net lease with limited landlord responsibilities. The lease also features 4, 5-year extension options with rent escalations at the beginning of each option term, offering investors a hedge against inflation. See Lease Abstract for full details.

FOR SALE DETAILS

PRICE

$1,134,915 USD

PRICE/SF

$64 USD /SF

CAP RATE

8.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Family Dollar Tree

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Supermarket

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1980

SPRINKLERS

-

PARKING SPACES

48

LAND DETAILS

LAND ACRES

1.73 AC

LAND SF

75,302 SF

ZONING

-

APN/PARCEL ID

03-11-20-05-101-001Z

ASK ABOUT THIS PROPERTY

Isaiah HarfNorthmarqMore Info
773-963-2637

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Isaiah HarfNorthmarqMore Info
773-963-2637

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