SHOPPING CENTER WITH BUILT IN 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
Cap Rate: 21.4%
Average Occupancy Rate: 100
Last Updated: 11/12/2019

Overview / Comments

HUGE PRICE REDUCTION!!!
AMAZING CAP RATE.!!
PRICE INCLUDES THE RESTAURANT AND THE VIDEO GAMING MACHINE BUSINESS. ALL TRADE FIXTURES AND RESTAURANT EQUIPMENT ARE ALSO INCLUDED IN THE SALE.
100% OCCUPIED STRIP CENTER WITH GREAT MONTHLY CASH FLOW.
LONG TERM STABLE TENANTS.LOCATED FEW MINUTES FROM I-90.
CLOSE PROXIMITY TO THE NEWLY BUILT MERCY HOSPITAL AND COSTCO WHOLESALE CLUB ADDS GREAT VALUE TO THE PROPERTY.
THE CURRENT OWNER WILL LEASEBACK THE RESTAURANT FOR
3 YEARS IF NEEDED. ASK FOR DETAILS.

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 Business Name RUDY'S CIGAR
Is Renting? Yes
SF of Space Occupied 1,000 SF
Current Rent $1,350 PSF (Annual)
Tenant Business Name HOUSE OF INDIA
Is Renting? Yes
SF of Space Occupied 4,800 SF
Current Rent $5,800 PSF (Annual)
Tenant Business Name BULL PEN SPORTS BAR
Is Renting? Yes
SF of Space Occupied 2,000 SF
Current Rent $2,800 PSF (Annual)
Tenant Business Name KINGS SLOTS
Is Renting? Yes
SF of Space Occupied 900 SF
Current Rent $1,200 PSF (Annual)

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: THIS STRIP CENTER IS LOCATED VERY CLOSE PROXIMITY TO NEW MERCY HOSPITAL AND NEWLY BUILT COSTCO WHOLESALE CLUB.
Area Description: 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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