FULLY LEASED STRIP CENTER INCLUDES RESTAURANT BUSINESS

Shopping Center for Sale
Also listed as Retail-Commercial
Catylist Listing ID: 30339184
Property Subtypes: Strip Center
Building Size (RSF): 11,400 SF
Gross Building Area: See Agent
Sale Price: $1,675,000
Unit Price: $146.93 PSF
Property Use Type: Net Leased Investment (NNN), Investment, Business
Sale Terms: Cash to Seller, Sale/Leaseback
Average Occupancy Rate: 100
Last Updated: 11/23/2020

Overview / Comments

FULLY LEASED STRIP CENTER WITH AMAZING CAP RATE!!!
CAP RATE :
11.9% –STRIP CENTER
61.4% –- RESTAURANT / VIDEO GAMING BUSINESS
36.7% –– COMBINED FOR BOTH BUSINESSES

LONG TERM STABLE TENANTS.
TURN KEY ARMCHAIR INVESTMENT

STRIP CENTER ––- $1,675,000 DOLLARS –– 3 BUSINESSES
––HAS 4 LONG TERM TENANTS ––
TENANTS AGREED TO SIGN 8 YEAR NEW LEASES FOR THE NEW BUYER

RENTAL BUSINESS –– $12,900 dollars(NET)
RESTAURANT BUSINESS –$11,700 DOLLARS(NET)
GAMING BUSINESS –– $7,500 DOLLARS–AVG(NET)

MONTHLY NET CASH FLOW :
$32,100 DOLLARS–NET AFTER ALL EXPENSES PAID

RESTAURANT AND VIDEO GAMING BUSINESS: $450,000 DOLLARS
CAN BE PURCHASED SEPARATELY

IMPROVEMENTS:
NEW ROOF IN 2018
AIR CONDITION IN 2018
REMODELED REST ROOMS AND BAR AREA IN 2020
INTERIOR DECORATIONS IN 2020
NEW CARPET IN 2020
REPLACED BOOTHS WITH NEW CHAIRS AND TABLES AS PER GOVT DIRECTIONS
NEW LANDSCAPE AND EXTERIOR SIDEWALK IMPROVEMENTS IN 2020
NEW OWNER VIRTUALLY ALMOST HAVE A NEW RESTAURANT AND
ABSOLUTELY A TURNKEY ARMCHAIR INVESTMENT.

ALL TRADE FIXTURES ARE INCLUDED IN THE SALE
LOCATED FEW MINUTES FROM I-90. CLOSE PROXIMITY TO THE NEWLY BUILT MERCY HOSPITAL AND COSTCO WHOLESALE CLUB ADDS GREAT VALUE TO THE PROPERTY.
SELLER RETIRING & MOVING OUT OF STATE.
MOTIVATED SELLER!!

Current Tenants

Tenant Business Name 640 MEAT COMPANY
Is Renting? Yes
SF of Space Occupied 2,700 SF
Current Rent $3,750 PSF (Annual)
Tenant Notes WOULD LIKE TO SIGN A LEASE FOR 8 YEARS
Tenant Business Name RUDY'S CIGAR
Is Renting? Yes
SF of Space Occupied 1,000 SF
Current Rent $1,350 PSF (Annual)
Tenant Notes SIGNED A LEASE FOR 8 YEARS
Tenant Business Name HOUSE OF INDIA
Is Renting? Yes
SF of Space Occupied 4,800 SF
Current Rent $5,800 PSF (Annual)
Tenant Notes OWNER WILL HAVE THE NEW BUYER OWNER FOR 8 YEAR LEASE
Tenant Business Name BULL PEN SPORTS BAR
Is Renting? Yes
SF of Space Occupied 2,000 SF
Current Rent $2,800 PSF (Annual)
Tenant Notes SIGNED 8 YEAR LEASE

Additional Details

Nearest MSA: Rockford
County: Winnebago
Taxing Authority: LOVES PARK
Tax ID/APN: 1203177015
Retail Clientele: General, Family, Business, Traveler, Tourist, Recreation, Casino
Property Located Between: LOCATED ON RIVERSIDE BETWEEN MULFORD AND I-90
Property Visibility: Excellent
Largest Nearby Street: INTERSTATE 90
Highway Access: INTERSTATE 90 WITHIN FEW BLOCKS FROM THE PROPERTY
Airports: CHICAGO -ROCKFORD AIRPORT
Site Description: 6410 E Riverside Blvd Loves Park, IL 61111; THIS STRIP CENTER IS LOCATED VERY CLOSE PROXIMITY TO NEW MERCY HOSPITAL AND NEWLY BUILT COSTCO WHOLESALE CLUB.
Area Description: 6410 E Riverside Blvd Loves Park, IL 61111; THE STRIP CENTER SITS IN THE HEART OF A VERY BUSY BUSINESS DISTRICT WITH DIFFERENT DEMOGRAPHICS.
Total Number of Buildings: 1
Number of Stories: 1
Property Condition: Excellent
Year Renovated: 2018
Construction/Siding: Brick
Parking Type: Surface
Parking Description: AMPLE PARKING FOR ALL BUSINESSES
Heat Type: Electricity, Natural Gas
Heat Source: Central
Internet Access: Cable, Satellite
Zoning Description: COMMERCIAL
Easements Description: NONE
Land Ownership: OWNED

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,884 56,413 152,909
Median Age: 44.27 43.43 40.18
Households: 2,399 23,329 61,477
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