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STNL Investment Opportunity 310 E State Rd 4,943 SF Retail Building Island Lake, IL 60042 $750,000 ($151.73/SF) 9.20% Cap Rate
INVESTMENT HIGHLIGHTS
- Island Lake Cafe in Operation for Over 30 Years
- NNN Lease w/ Minimal Landlord Responsibilities
- High Income Area
- 19,600 Daily Vehicles on E State Rd (Rt 176)
- At Signalized Intersection
EXECUTIVE SUMMARY
Brookline Real Estate, LLC. presents the opportunity to acquire a STNL investment positioned in a strong, transit-oriented location in the Chicago suburb of Island Lake.
Island Lake Cafe at 310 E State Road contains 4,943 square-feet and is situated on approximately 0.63 acres. Directly on Route 176 between US Route 12 and the Fox River, the property benefits greatly from its position at a signalized intersection along the main business corridor which features national retailers and outdoor-related businesses.
The building has been well-maintained and offers its visitors 29 total parking spots in an accessible lot with three points of ingress/egress. Island Lake Cafe has been in operation for 30 years and currently has four years left on their lease.
This asset is being offered at a 9.20% CAP rate with tremendous cash flow and continued growth.
Island Lake Cafe at 310 E State Road contains 4,943 square-feet and is situated on approximately 0.63 acres. Directly on Route 176 between US Route 12 and the Fox River, the property benefits greatly from its position at a signalized intersection along the main business corridor which features national retailers and outdoor-related businesses.
The building has been well-maintained and offers its visitors 29 total parking spots in an accessible lot with three points of ingress/egress. Island Lake Cafe has been in operation for 30 years and currently has four years left on their lease.
This asset is being offered at a 9.20% CAP rate with tremendous cash flow and continued growth.
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PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,943 SF
Building Class
C
Year Built
1964
Price
$750,000
Price Per SF
$151.73
Cap Rate
9.20%
NOI
$69,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
0.63 AC
Parking
46 Spaces (9.31 Spaces per 1,000 SF Leased)
Frontage
60’ on East State Road
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 09-21-320-024 | Improvements Assessment | $140,739 |
| Land Assessment | $21,119 | Total Assessment | $161,858 |
PROPERTY TAXES
Parcel Number
09-21-320-024
Land Assessment
$21,119
Improvements Assessment
$140,739
Total Assessment
$161,858
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STNL Investment Opportunity | 310 E State Rd
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