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29 N Northwest Hwy - Physicians Immediate Care 4,200 SF Health Care Building Offered at $3,274,016 at a 6.35% Cap Rate in Palatine, IL 60067
Investment Highlights
- Long Term Lease with Over 11 Years Remaining | Physicians Immediate Care is operating under a long-term 15-year lease, with over 11 years remaining
- Attractive 10% Rental Increases Every 5 Years | The subject property is subject to 10% rental increases throughout the 15-year base term
- Absolute Triple Net Lease with No Landlord Responsibilities | Physicians Immediate Care is under an absolute NNN lease
Executive Summary
Surmount is pleased to present the exclusive listing for a Physicians Immediate Care located at 29 North Northwest Highway, Palatine, IL 60067. The site consists of roughly 4,200 rentable square feet of building space on an estimated 0.73-acre parcel of land. This Physicians Immediate Care is subject to a 15-year Triple Net (NNN) lease, which commenced 7/1/2021. The current annual rent is $207,900 and has scheduled increases of 10.00% every 5 years.
Property Facts
| Price | $3,274,016 | Lot Size | 0.73 AC |
| Price Per Bed | $3,274,016 | Building Size | 4,200 SF |
| Sale Type | Investment | No. Beds | 1 |
| Cap Rate | 6.35% | No. Stories | 1 |
| Property Type | Health Care | Year Built | 2021 |
| Building Class | B | ||
| Zoning | I1 | ||
| Price | $3,274,016 |
| Price Per Bed | $3,274,016 |
| Sale Type | Investment |
| Cap Rate | 6.35% |
| Property Type | Health Care |
| Building Class | B |
| Lot Size | 0.73 AC |
| Building Size | 4,200 SF |
| No. Beds | 1 |
| No. Stories | 1 |
| Year Built | 2021 |
| Zoning | I1 |
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Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 02-14-408-028-0000 | Improvements Assessment | $143,338 |
| Land Assessment | $116,662 | Total Assessment | $260,000 |
Property Taxes
Parcel Number
02-14-408-028-0000
Land Assessment
$116,662
Improvements Assessment
$143,338
Total Assessment
$260,000
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29 N Northwest Hwy - Physicians Immediate Care
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