1388 S US Hwy 12, Fox Lake, IL | 1388 S US Highway 12
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1388 S US Hwy 12, Fox Lake, IL 1388 S US Highway 12
8,000 SF 100% Leased Retail Building Fox Lake, IL 60020 £3,116,550 (£390/SF) 5.32% Net Initial Yield
Investment Highlights
- 100% Occupancy
- Strong NOI $200k
- 5+ Yr Ave Weighted Lease Term Remaining
Executive Summary
Fully occupied Retail Strip Center, located on busy US Hwy RT12/Rand Rd and situated on out lot to Menards Building Center, is offered for sale. This 8,000sf center features five (5) strong, tenants, with lease terms beginning in 2004, 2012, 2013, 2016 and 2022, remaining weighted average lease term of 5.3 years, plus future 5 yr renewal options. High daily traffic flow with surrounding established businesses including Menards Home Improvement Center, Jewel Osco Grocery, The Home Depot, Aldi Grocery, Starbucks, Sherwin Williams and others. Excellent exposure to RT 12, this location is considered the entry to the Chain of Lakes, one of the most popular leisure destinations in the country drawing 60,000 visitors over the summer and as high as 100,000 during the holidays. Contact, Broker Joe H for Income/Expense and Rent Roll.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
8,000 SF
Building Class
C
Year Built
2004
Price
£3,116,550
Price Per SF
£390
Net Initial Yield
5.32%
NOI
£165,683
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.18
Land Acres
1.03 AC
Zoning
B3, Fox Lake - General Business
Parking
60 Spaces (7.5 Spaces per 1,000 SF Leased)
Frontage
181 ft on Us 12 Hwy
PROPERTY TAXES
Parcel Number | 05-22-302-001 | Improvements Assessment | £298,881 |
Land Assessment | £116,879 | Total Assessment | £415,760 |
PROPERTY TAXES
Parcel Number
05-22-302-001
Land Assessment
£116,879
Improvements Assessment
£298,881
Total Assessment
£415,760
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1388 S US Hwy 12, Fox Lake, IL | 1388 S US Highway 12
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