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340 E Rollins Rd
Round Lake, IL 60073
Harbor Freight · Retail Property For Sale
Investment Highlights
- Below-Market Rent
- Long-Term Operating History
- Strategic Outparcel to Future Target, entertainment center and national tenants
- Corporate Lease with healthy rental escalations
- Future Re-Tenanting and Redevelopment Opportunity
- Outstanding Retail Corridor | Unmatched Access/Visibility | Strategic Outparcel to Future Target, Entertainment Center & National Tenants
Executive Summary
CBRE’s Net Lease Property Group-Midwest is pleased to present, as exclusive advisor, the opportunity to acquire a Harbor Freight Tools located at Rollins Crossing in Round Lake Beach, IL. Harbor Freight has been operating at this location since 2013 and is in its first of three renewal options. The corporate lease features healthy 10% rental increases in each of the two remaining 5-year options. Harbor Freight currently pays just $6.73 PSF, substantially under the average of $14.37 PSF among other Harbor Freight locations on the market.
The Property benefits from its strategic position as an outparcel to Rollins Crossing, within the heart of the area’s dominant retail corridor featuring more than 1.7 million square feet of national and regional retailers. Fronting County East Rollins Road, a heavily trafficked east-west artery with traffic counts exceeding 27,000 vehicles per day, the site offers unmatched visibility and accessibility.
Further enhancing the location’s long-term value, a new Target store is planned to open behind Harbor Freight, adding another major national anchor to the trade area and driving increased consumer traffic.
The Property benefits from its strategic position as an outparcel to Rollins Crossing, within the heart of the area’s dominant retail corridor featuring more than 1.7 million square feet of national and regional retailers. Fronting County East Rollins Road, a heavily trafficked east-west artery with traffic counts exceeding 27,000 vehicles per day, the site offers unmatched visibility and accessibility.
Further enhancing the location’s long-term value, a new Target store is planned to open behind Harbor Freight, adding another major national anchor to the trade area and driving increased consumer traffic.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
21,083 SF
Building Class
B
Year Built
1995
Price
$2,300,000
Price Per SF
$109.09
Cap Rate
6.17%
NOI
$141,889
Tenancy
Single
Building Height
1 Story
Building FAR
0.33
Lot Size
1.47 AC
Zoning
C-2 - Central Business District
Parking
31 Spaces (1.47 Spaces per 1,000 SF Leased)
Property Taxes
| Parcel Number | 06-16-103-001 | Improvements Assessment | $284,976 |
| Land Assessment | $150,041 | Total Assessment | $435,017 |
Property Taxes
Parcel Number
06-16-103-001
Land Assessment
$150,041
Improvements Assessment
$284,976
Total Assessment
$435,017
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