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Take 5 Oil Change 14701 Cicero Ave 3,000 SF Retail Building Midlothian, IL 60445 $2,500,000 ($833.33/SF) 6% Cap Rate
Investment Highlights
- 15-Year Lease | Franchisee Guaranteed | 10% Increases Every 5 Years
- Prime Retail Corridor | High-Traffic Chicago MSA Location
- Established Auto Service Brand | Driven Brands (NASDAQ: DRVN)
- Absolute NNN Leased Ground Lease | Zero Landlord Responsibilities
- Attractive Market Demographics | Dense & Established Trade Area
Executive Summary
SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire a leased fee interest (land ownership) in an absolute NNN leased, Take 5 Oil investment property located in Midlothian, Illinois. The tenant, TWO Oil 5, LLC signed a 15-year lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for an out of state investor.
Property Facts
Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
3,000 SF
Building Class
B
Year Built/Renovated
1989/2020
Price
$2,500,000
Price Per SF
$833.33
Cap Rate
6%
NOI
$150,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
0.52 AC
Zoning
B3 - Community Commercial
Parking
8 Spaces (2.67 Spaces per 1,000 SF Leased)
Frontage
80’ on Cicero Ave
Amenities
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
Walk Score®
Very Walkable (73)
Property Taxes
| Parcel Numbers | Improvements Assessment | $44,512 | |
| Land Assessment | $42,013 | Total Assessment | $86,525 |
Property Taxes
Parcel Numbers
Land Assessment
$42,013
Improvements Assessment
$44,512
Total Assessment
$86,525
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Take 5 Oil Change | 14701 Cicero Ave
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