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Family Dollar Tree 505 N Route 49 17,692 SF Retail Building Casey, IL 62420 $1,134,915 ($64.15/SF) 8.85% Cap Rate
Investment Highlights
- Brand New, Long-Term Net Lease with Escalations
- Concrete Parking Lot
- 2023 Renovations to Existing 16K+ SF Building
- Strong Access & Visibility – Near Local Schools
Executive Summary
Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the Family Dollar property located in Casey, IL (the “Property”). The Property consists of a 16,240-square-foot freestanding retail building on a 1.73-acre parcel of land. Family Dollar operates under a 10-year, net lease with limited landlord responsibilities. The lease also features 4, 5-year extension options with rent escalations at the beginning of each option term, offering investors a hedge against inflation. See Lease Abstract for full details.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
17,692 SF
Building Class
C
Year Built
1980
Price
$1,134,915
Price Per SF
$64.15
Cap Rate
8.85%
NOI
$100,440
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.73 AC
Parking
48 Spaces (2.71 Spaces per 1,000 SF Leased)
Frontage
Nearby Major Retailers
Property Taxes
| Parcel Number | 03-11-20-05-101-001Z | Improvements Assessment | $69,742 |
| Land Assessment | $24,901 | Total Assessment | $94,643 |
Property Taxes
Parcel Number
03-11-20-05-101-001Z
Land Assessment
$24,901
Improvements Assessment
$69,742
Total Assessment
$94,643
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Family Dollar Tree | 505 N Route 49
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