Investment Summary
Price | $1,825,000 |
Cap Rate | |
NOI | |
Lease Term | 10 Years |
Lease Type | Absolute NNN Ground Lease, With Tenant Responsible For All Taxes, Insurance, Maintenance, And Repair, Including Roof, Structure, And Parking Lot |
Rental Increases | 10% Rental Increases Every Five (5) Years |
Year Built | 2022 |
Building Size | 1,700 SF |
Lot Size | 0.31 Acres (13,437 SF) |
Status | Sold |
Lead Brokers | Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Vincent Aicale Executive Managing Director 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Executive Managing Director 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Russell Train Brokerage 202.210.2379 russell.train@cushwake.com CA RE License #02087816 |
Investment Highlights
NEW 10-YEAR ABSOLUTE NNN GROUND LEASE
» 10-year absolute NNN ground lease with no landlord responsibilities
» Strong personal guaranty
» 10% rental increases every five (5) years in initial term and option periods, providing a hedge against inflation
CENTRAL LOCATION NEAR MAJOR EMPLOYERS, RETAILERS, AND COMMUNITY HUBS
» Site resides along U.S. Route 12/East Rand Road, with access to 25,557 vehicles per day directly in front of the property
» Located directly across from a Menards, Walmart, and ALDI-anchored retail destination
» At the entrance to Kensington Business Park, featuring offices for Makita USA, Atlas Material Testing Technology, Coram Healthcare, Well Foot & Ankle institute, MPI Sports Development Center, and more
» Beneficial proximity to major community hubs, including Allstate Arena (1.4 million annual visitors), Rivers Casino (43,000-square-foot gaming area and 1,000 employees), and Mystic Waters Family Aquatic Center
» Surrounded by a strong mix of local and national retailers, including Burlington, Ross, Five Below, Marshalls, Texas Roadhouse, Panda Express, and many more
» 20 miles from Downtown Chicago, the third-most populous city in the United States (2,746,388 population)
LARGE, AFFLUENT, AND GROWING CUSTOMER BASE
» 319,854 residents live within a five-mile radius
» Average annual household income of $145,141 within one mile of the property
» Projected average annual household income increase of 12 percent within a five mile radius of the site over the next five years, poising Mount Prospect and Take 5 Oil Change for significant concurrent growth
» Surrounded by several housing developments and townhouse/apartment complexes
DYNAMIC TENANT SERVING A PRACTICAL NEED
» Drive-thru oil change in less than five minutes, with customer remaining in car
» Take 5 Oil Change is experiencing explosive growth with continued aggressive expansion plans
» New 2021 construction built to Take 5’s latest prototype – includes three (3) service bays
Property Description
The property located along U.S. Route 12/East Rand Road, with visibility and access to 25,557 vehicles per day. The site benefits from its setting in a primary retail corridor near major tourist attractions. This Take 5 is located directly across from a Menards, Walmart, and ALDI-anchored retail destination. The property is also located at the entry to Kensington Business Park, featuring offices for Makita USA, Atlas Material Testing Technology, Coram Healthcare, Well Foot & Ankle institute, MPI Sports Development Center, and more. The site has a beneficial proximity to major community hubs, including Allstate Arena (1.4 million annual visitors), Rivers Casino (43,000-square-foot gaming area and 1,000 employees), and Mystic Waters Family Aquatic Center The site is surrounded by a strong mix of local and national retailers, including Burlington, Ross, Five Below, Marshalls, Texas Roadhouse, Panda Express, and many more. The location conveniently serves as a gateway to Downtown Chicago, the third-most populous city in the United States (2,746,388 population).
The property is centrally located near major employers, important community amenities, and dense residential neighborhoods. 319,854 residents live within a five-mile radius, with an average household income of $145,141 within one mile of the property. The location benefits from its setting surrounded by several single family housing developments and townhouse/apartment complexes. Additionally, the property is poised for significant growth, with a projected average annual household income increase of 12 percent within five miles of the site over the next five years.