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Hammond Henry Urgent Care 203 W Front St 3,850 SF Retail Building Annawan, IL 61234 $815,000 ($211.69/SF) 7.51% Cap Rate
Executive Summary
- Corporate Guaranteed | Backed by Hammond Henry Hospital which Services Over 30,000 People with Five Locations + Over 500 Employees | Total Patient Revenue In Excess of $145m
- NNN Lease | Zero Landlord Responsibilities | Tenant Responsible for Roof & Structure | Tenant Pays All Expenses Directly
- Rapidly Growing Net Operating Income | 1.5% Annual Rental Increases | Major Hedge Against Inflation
6-Years Remaining on Initial 12-Year Lease | Lease Term Through 4/30/2032 | 8.10% CAP By End of Initial Term
Very Modest Rent of Only $15.90/SF | Remains Sub-$20/SF By End of Final Option (2nd Option) | Upside Potential Bringing Tenant to Higher Rent
- Only Urgent Care/Health Care Option within 15-Min Radius | Dominant Market Control Catering Extremely Well to Regional Demographics
- Relocation Site within Market | Extremely Sticky Tenant with Hefty Capital Injection by Tenant to Build Out Space in 2020 | Expanded Services
- Hammond-Henry Hospital has been Operating for Over 125 Years | 45% Market Share Across Henry County & Surrounding Rural Communities
- Two, 5-Year Option Terms Remaining | Include 1.5% Annual Increases | 8.8% CAP By End of 1st Option | 9.4% CAP by End of 2nd Option
- NNN Lease | Zero Landlord Responsibilities | Tenant Responsible for Roof & Structure | Tenant Pays All Expenses Directly
- Rapidly Growing Net Operating Income | 1.5% Annual Rental Increases | Major Hedge Against Inflation
6-Years Remaining on Initial 12-Year Lease | Lease Term Through 4/30/2032 | 8.10% CAP By End of Initial Term
Very Modest Rent of Only $15.90/SF | Remains Sub-$20/SF By End of Final Option (2nd Option) | Upside Potential Bringing Tenant to Higher Rent
- Only Urgent Care/Health Care Option within 15-Min Radius | Dominant Market Control Catering Extremely Well to Regional Demographics
- Relocation Site within Market | Extremely Sticky Tenant with Hefty Capital Injection by Tenant to Build Out Space in 2020 | Expanded Services
- Hammond-Henry Hospital has been Operating for Over 125 Years | 45% Market Share Across Henry County & Surrounding Rural Communities
- Two, 5-Year Option Terms Remaining | Include 1.5% Annual Increases | 8.8% CAP By End of 1st Option | 9.4% CAP by End of 2nd Option
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
3,850 SF
Building Class
B
Year Built/Renovated
1994/2020
Price
$815,000
Price Per SF
$211.69
Cap Rate
7.51%
NOI
$61,223
Tenancy
Single
Building Height
1 Story
Building FAR
0.34
Lot Size
0.26 AC
Zoning
B-2
Parking
5 Spaces (1.3 Spaces per 1,000 SF Leased)
Frontage
107’ on West Front Street
Amenities
- Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Hammond Henry Urgent Care
- Health Care and Social Assistance
- -
- $14.52
- Triple Net
- Feb 2032
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Hammond Henry Urgent Care | Health Care and Social Assistance | - | $14.52 | Triple Net | Feb 2032 |
Property Taxes
| Parcel Number | 15-03-378-014 | Improvements Assessment | $29,114 |
| Land Assessment | $4,640 | Total Assessment | $33,754 |
Property Taxes
Parcel Number
15-03-378-014
Land Assessment
$4,640
Improvements Assessment
$29,114
Total Assessment
$33,754
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Hammond Henry Urgent Care | 203 W Front St
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