49,200

4.92% Interest in 301 East State Route 115, Herscher, IL 60941

9,026sqft2acre lot

Property Type
Commercial
Status
Under Contract
Occupied
Yes
Year Built
2016
County
Kankakee
Coordinates
41.057636, -88.093969

301 East State Route 115, Herscher, IL 60941

Investor equity buy-in for retail income standalone building. Stable anchor tenant in place, Dollar Tree retail, with 40-year lease terms. Investor participation portion is 4.92% ownership. The first period lease capitalization rate is at 6.76%. Next five-year lease period, starting August 2025, return on investment will be at 6.97%. Cash investment requirement is $67,650.

Retail property is a steel and masonry building constructed in 2016. This is a single occupant building with the rentable area of 9,026 sqft. Building features steel structural framing, exterior walls of concrete block and steel, with central HVAC, fire suppression and alarm system. Building sits on a parcel of 99,752 sqft / 2.29 acres. The site has 30 surface parking spaces. Accessibility is by State Route 115, which is a major arterial. The building resides on the northern edge of Herscher. This Dollar Tree tenant serves Herscher and greater southwestern Kankakee County. The lease terms are triple net, with no landlord responsibilities.

A very nice armchair investment. Contact broker for additional information.

Broker
Ira Lauter
+1 (312) 925-0900
Broker ID: 475092590
Documents
For questions concerning the purchase of the property or how to make an offer, please contact the listing agent.