1531 E College Ave | Normal, IL 61761
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- LoopNet Team
1531 E College Ave
Normal, IL 61761
FRESENIUS RETAIL CENTER in a COLLEGE TOWN · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Fresenius Medical Care occupies 77% of the building
- 95% of the space operates on NNN reimbursement structures, and benefits from 2-3% annual rental escalators
- Illinois operates on a Certificate-of-Needs program creating a high barrier to entry for health providers like Fresenius to enter the marketplace
- Fresenius and Papa Murphy’s Pizza are on long term leases, expiring in 2030 and 2029 respectively, 4.89-year Weighted Average Lease Term (WALT)
- Well positioned in the heart of a dense retail node, west of the signalized intersection with combined traffic counts of 53,000 VPD
- Fresenius has a Moody’s credit rating of Baa3, and an S&P rating of BBB-, these are both investment grade
PROPERTY FACTS
Property Type
Retail
Building Size
9,120 SF
Building Class
B
Year Built
1990
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.29
Lot Size
0.72 AC
Zoning
B-1
Frontage
130’ on College Ave
PROPERTY TAXES
| Parcel Number | 14-26-327-005 | Improvements Assessment | $184,949 |
| Land Assessment | $136,887 | Total Assessment | $321,836 |
PROPERTY TAXES
Parcel Number
14-26-327-005
Land Assessment
$136,887
Improvements Assessment
$184,949
Total Assessment
$321,836
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