Algonquin Multi-Tenant Outparcel
1492-1496 S Randall Rd Algonquin , IL 60102-5919

Algonquin Multi-Tenant Outparcel - retail for sale

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Overview



Multi-tenant retail building that is an outparcel to a Walmart Supercenter at the intersection of South Randall and County Line roads in Algonquin. The asset includes three corporate tenants, including FedEx Office and Print Services, Vitamin Shoppe, and Bentley’s Pet Stuff. The first two tenants have historical occupancy, while Bentley’s Pet Shoppe has a new lease. Bentley’s has taken the pet supplies market by storm, expanding from 1 store to over 100 in a little over 2 years. Located in a dense, active retail corridor with 3.7 million sq. ft of retail space, with names such as Dick’s Sporting Goods, TJ Maxx, JCPenney, Target, Michael’s, Costco and many more. Over 50,000 residents with an average household income of over $100,000 within a 3-mile radius. Great opportunity for a retail investment with high credit strength, modern construction and in a premium retail location within the Chicago MSA.

Investment highlights


  • Fee simple interest
  • Property features 7.5 years of weighted average lease term remaining
  • Contractual rent growth
  • Minimal landlord responsibilities
General
Property type Retail
Tenure type Sale/Purchase
Property address 1492-1496 S Randall Rd, Algonquin, IL 60102-5919
Building size 7,926  ft2
Year built 2005
Financial
Price $3,846,100
Cap rate 7.00%
Current NOI $269,227.00
Lease
Tenant's name Vitamin Shoppe Industries Incorporated
Lease type NN
Annual rent $154,534.00
Lease expiration date 05/11/2020
Remaining term 0.5Yrs

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