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1808 S West Ave
Freeport, IL 61032
DeVita Dialysis · Retail Property For Sale
Investment Highlights
- Net Lease - Landlord Responsibilities are Limited to Roof and Structure.
- 2% Annual Increases with a Strong Corporate Guarantee with
- Ideally Located In a Densely Populated Major Retail Trade Area.
- Current Term Expires August 2028 with Three, 5-Year Options Remaining.
- Tenant Has Long Operating History Showing Commitment to the Site.
- Freeport is the Largest City in Stephenson County and Home to Fortune 500 Companies.
Executive Summary
Andersen, Jung & CO. is pleased to present the exclusive fee simple offering for a prime Davita Dialysis at 1808 S West Ave in Freeport, IL.
Davita has occupied the property since 2012 and recently extended their lease through 2028 under a NNN lease with minimal Landlord responsibilities. Landlord is responsible for roof and structure only. Tenant reimburses for CAM and Operating Expenses including a management fee up to 4% of the CAM expenses. The property is comprised of 6,515 square feet and sits on approximately 0.82 acre of land with ample parking. Originally built in 1991, the property was renovated in 2012 to meet Davita’s brand image and function.
Ideally located in a dense major retail trade area full of commercial properties and immediately surrounded by Applebee’s, Burger King, Cricket Wireless, Rent-A-Center, Dunkin Donuts, Dollar Tree, Anytime Fitness, and so much more. Freeport is the largest city in Stephenson County and home to many Fortune 500 companies as well as many farms/agriculture, business, trade, and education.
Don’t miss this great opportunity!
Davita has occupied the property since 2012 and recently extended their lease through 2028 under a NNN lease with minimal Landlord responsibilities. Landlord is responsible for roof and structure only. Tenant reimburses for CAM and Operating Expenses including a management fee up to 4% of the CAM expenses. The property is comprised of 6,515 square feet and sits on approximately 0.82 acre of land with ample parking. Originally built in 1991, the property was renovated in 2012 to meet Davita’s brand image and function.
Ideally located in a dense major retail trade area full of commercial properties and immediately surrounded by Applebee’s, Burger King, Cricket Wireless, Rent-A-Center, Dunkin Donuts, Dollar Tree, Anytime Fitness, and so much more. Freeport is the largest city in Stephenson County and home to many Fortune 500 companies as well as many farms/agriculture, business, trade, and education.
Don’t miss this great opportunity!
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,515 SF
Building Class
C
Year Built/Renovated
1991/2012
Price
$1,799,000
Price Per SF
$276.13
Cap Rate
6.16%
NOI
$110,755
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
0.82 AC
Zoning
B - Commercial
Parking
58 Spaces (8.9 Spaces per 1,000 SF Leased)
Frontage
269’ on South West Avenue
Property Taxes
| Parcel Number | 18-18-01-478-002 | Improvements Assessment | $103,309 |
| Land Assessment | $89,557 | Total Assessment | $192,866 |
Property Taxes
Parcel Number
18-18-01-478-002
Land Assessment
$89,557
Improvements Assessment
$103,309
Total Assessment
$192,866
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