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Concentra Strip 3035-3043 Belvidere Rd 12,972 SF 100% Leased Retail Building Waukegan, IL 60085 $2,962,000 ($228.34/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% occupied inline strip building with long-term leases signed featuring annual rental increases
- Endcap drive-thru
- Anchored by Concentra – the largest provider of occupational health services in the country by number of locations
- Recently renovated in 2024 which included roof replacement on 40% of the leasable area
- Low price per foot – $206
- Affluent demographics – $103,000 average household incomes within a 1-mile radius of the subject property
EXECUTIVE SUMMARY
100% occupied inline strip with long-term leases in place featuring annual rental increases. Subject property underwent a full-scale renovation/upgrade in 2024 which included roof replacement on 40% of the leasable area. The building is anchored by Concentra – the largest provider of occupational health services in the country by number of locations.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
12,972 SF
Building Class
B
Year Built/Renovated
2005/2024
Price
$2,962,000
Price Per SF
$228.34
Cap Rate
7%
NOI
$207,351
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
1.35 AC
Opportunity Zone
Yes
Zoning
B-3 - Business
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 08-30-305-001 | Improvements Assessment | $239,270 |
| Land Assessment | $139,069 | Total Assessment | $378,339 |
PROPERTY TAXES
Parcel Number
08-30-305-001
Land Assessment
$139,069
Improvements Assessment
$239,270
Total Assessment
$378,339
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Presented by
CPP CRE ILLINOIS, LLC
Concentra Strip | 3035-3043 Belvidere Rd
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