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Applebee's 2126 Gateway Ctr 4,179 SF Retail Building Belvidere, IL 61008 $1,729,000 ($413.74/SF) 6.78% Cap Rate
Investment Highlights
- High-profile location in a strong retail corridor next door to Walmart Supercenter, Starbucks, Verizon, Dunkin Donuts and much more
Executive Summary
Applebee's investment opportunity in Belvidere, IL. This is a high-profile location in a strong retail corridor next door to Walmart Supercenter, Starbucks, Verizon, Dunkin Donuts and much more. This property consist of a 4,179 SF building built in 2015 on a 1.37 acre lot. There are 5 years remaining on an initial 10 year absolute NNN lease with 2% annual increase every September. There are five extensions of two years each. Applebee's is located off of I-90 and the main Belvidere city exit. The traffic count on 1-90 is 52,700/day, and the two access roads are 16,000 & 15,500/day, giving a combined AADT of over 84,000 cars per day! The growing town has a population of 25,585, and is a suburb of Rockford, IL with a population of 147,000.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,179 SF
Building Class
C
Year Built
2006
Price
$1,729,000
Price Per SF
$413.74
Cap Rate
6.78%
NOI
$117,177
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.37 AC
Zoning
PB - Planned Business
Nearby Major Retailers
Property Taxes
| Parcel Number | 08-06-101-006 | Improvements Assessment | $271,640 |
| Land Assessment | $91,704 | Total Assessment | $363,344 |
Property Taxes
Parcel Number
08-06-101-006
Land Assessment
$91,704
Improvements Assessment
$271,640
Total Assessment
$363,344
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Applebee's | 2126 Gateway Ctr
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