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7010 Grand Ave 12,000 SF 84% Leased Retail Building Gurnee, IL 60031 $3,550,000 ($295.83/SF) 6.65% Cap Rate
Executive Summary
?84% leased shopping center with one vacancy totaling 1,901 SF, 70% of tenants have operated at this site for 25+ years showing the tenants' commitment to the site
?Located less than 2 miles west of Gurnee Mills Mall, the largest shopping mall in Illinois, featuring over 1.9 million square feet of retail shopping that sees over 9 million annual visitors. The mall features over 200 shops, restaurants, entertainment options, 1,000-seat food court, and a movie theater
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Mix of national and local retailers all signed to landlord favorable net-leases. Firestone recently invested over $200,000 into their unit and is ranked in the top 95th percentile for store performance in Illinois
?One of the state's highest-performing Tropical Smoothie locations, the property is enhanced by a full-service drive-thru lane, providing a significant advantage over nearby competition
?Situated in a very well-established community, the property draws from more than 116,899 residents with an average household income of $146,300 in the surrounding 5-mile radius
?Located on a hard corner signalized intersection along the high traffic corridor of Grand Avenue, which sees 50,873 VPD, the main retail thoroughfare for Gurnee, IL. Additionally, the property is surrounded by national retailers: Sam's Club, Walmart, Mariano's, Jewel, Target, The Home Depot, Best Buy, Binny's, Chick-fil-A, Texas Roadhouse, Outback Steakhouse, and more
?Located less than 2 miles west of Gurnee Mills Mall, the largest shopping mall in Illinois, featuring over 1.9 million square feet of retail shopping that sees over 9 million annual visitors. The mall features over 200 shops, restaurants, entertainment options, 1,000-seat food court, and a movie theater
?
Mix of national and local retailers all signed to landlord favorable net-leases. Firestone recently invested over $200,000 into their unit and is ranked in the top 95th percentile for store performance in Illinois
?One of the state's highest-performing Tropical Smoothie locations, the property is enhanced by a full-service drive-thru lane, providing a significant advantage over nearby competition
?Situated in a very well-established community, the property draws from more than 116,899 residents with an average household income of $146,300 in the surrounding 5-mile radius
?Located on a hard corner signalized intersection along the high traffic corridor of Grand Avenue, which sees 50,873 VPD, the main retail thoroughfare for Gurnee, IL. Additionally, the property is surrounded by national retailers: Sam's Club, Walmart, Mariano's, Jewel, Target, The Home Depot, Best Buy, Binny's, Chick-fil-A, Texas Roadhouse, Outback Steakhouse, and more
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
12,000 SF
Building Class
C
Year Built
1993
Price
$3,550,000
Price Per SF
$295.83
Cap Rate
6.65%
NOI
$236,075
Percent Leased
84%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.20
Lot Size
1.40 AC
Zoning
C-2 - Community Commercial District
Parking
50 Spaces (4.16 Spaces per 1,000 SF Leased)
Frontage
329’ on Grand Ave
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
Space Availability
- Space
- Size
- Space Use
- Position
- Available
1,901 square foot retail space available for lease.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,901 SF | Retail | In-Line | Now |
1st Floor
| Size |
| 1,901 SF |
| Space Use |
| Retail |
| Position |
| In-Line |
| Available |
| Now |
1 of 1
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1st Floor
| Size | 1,901 SF |
| Space Use | Retail |
| Position | In-Line |
| Available | Now |
1,901 square foot retail space available for lease.
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 07-08-310-046 | Improvements Assessment | $169,738 |
| Land Assessment | $123,073 | Total Assessment | $292,811 |
Property Taxes
Parcel Number
07-08-310-046
Land Assessment
$123,073
Improvements Assessment
$169,738
Total Assessment
$292,811
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
