108 Main St - Retail FOR SALE


Savanna, IL 61074
$750,000 USD
405-205-8489
108 Main St, Savanna, IL for Sale
$750,000 USD
Retail - FOR SALE
1/14
null | 6% Cap Rate

108 Main St
Savanna, IL 61074


HIGHLIGHTS

  • Low Price Point, Free-Standing Savanna Home & Hardware ACE Store in Savanna, Illinois
  • The Property is Leased for 15 Years (Commenced June 2023) to Coborn’s ($1.4B Rev)
  • Absolute NNN – No Landlord Responsibilities
  • Only Hardware Store within a 10-Mile Radius of Savanna
  • Excellent Value: Property is Offered at Only $55.48 PSF, Well Below Replacement Costs
  • Tenured, Successful Store with Extremely Low Lease Rate: Tenant Pays Only $3.00 PSF, Resulting in Low Historic Rent-to- Sales Ratio

OVERVIEW

SHOP Companies has been exclusively retained to offer for sale the free-standing Savanna Home & Hardware ACE store in Savanna, Illinois. The property is subject to a new, 15-year absolute net lease to J.B. Sullivan, LLC. The store benefits from low rent ($3.00 psf), strong sales, and low rent-to-sales ratio. ACE Hardware is a downtown location, only a half-mile away from its operator, J.B. Sullivan’s corporate office and regional distribution center. The subject property is also the only hardware store within a 10-Mile radius of Savanna. In June 2023, Coborn’s (MN) acquired the J.B. Sullivan chain of grocery and hardware stores. With the acquisition of J.B. Sullivan’s, Coborn’s now operates a total of 135 business units, including hardware stores, liquor stores, fuel centers, drycleaners, pharmacies, and franchised restaurants. In Association with ParaSell, Inc. | Costa Mesa, California | A Licensed Illinois Broker #478027307

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$55 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ace Hardware - Savanna, IL

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1973

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,590 SF

ZONING

-

APN/PARCEL ID

08-07-09-201-047

ASK ABOUT THIS PROPERTY

Will LightfootSHOP CompaniesMore Info
405-205-8489

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Will LightfootSHOP CompaniesMore Info
405-205-8489

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.