1548-1550 N Larkin Avenue - Fast Food FOR SALE


Joliet, IL 60435
$2,750,000 USD
630-570-2260
1548-1550 N Larkin Avenue, Joliet, IL for Sale
$2,750,000 USD
Fast Food - FOR SALE
1/13
null | 6.28% Cap Rate

1548-1550 N Larkin Avenue
Joliet, IL 60435


HIGHLIGHTS

  • 100% occupied retail center
  • Anchored by the top-performing Starbucks by visits nationwide, and in Illinois | Best-performing coffee shop within a 13 mile radius (Placer.ai)
  • Starbucks: 9 years remaining on lease with four (5-year) renewal options, corporately guaranteed
  • Winnie Nails: Recently signed a 10-year lease with two (5-year) renewal options
  • High-traffic, dense trade area | Located on Larkin Avenue with 28,700 vehicles per day and near two interstates
  • The property is situated at a signalized intersection at the entrance of North Ridge Plaza (3.1M annual visitors (Placer.ai))

OVERVIEW

This fully leased, two-tenant retail center is anchored by a top-performing Starbucks and Winnie Nails, both secured with long-term leases and rental escalations. The Starbucks ranks in the top 4 percent nationwide for visits, with over 515,600 visits in the past year, making it the best-performing coffee shop within a 13-mile radius. Positioned on Larkin Avenue with 28,700 vehicles per day and near major highways, the property benefits from a dense trade area with 93,410 residents within three miles. Located at a signalized intersection in North Ridge Plaza, it shares a retail hub with high-traffic national tenants like Hobby Lobby, Burlington, and VASA Fitness, drawing 3.1 million visitors annually. Additionally, the site is adjacent to major shopping centers, including Jewel-Osco, Hillcrest Shopping Center, and Louis Joliet Mall, which collectively see millions of visitors each year.

FOR SALE DETAILS

PRICE

$2,750,000 USD

PRICE/SF

$636 USD /SF

CAP RATE

6.28%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Starbucks Anchored Two-Tenant Center

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Fast Food

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2023

SPRINKLERS

-

PARKING SPACES

106

LAND DETAILS

LAND ACRES

0.88 AC

LAND SF

38,333 SF

ZONING

-

APN/PARCEL ID

30-07-06-201-013-0000

ASK ABOUT THIS PROPERTY

Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2260

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Sean SharkoSharko | Weisenbeck | Mendoza GroupMore Info
630-570-2260

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