3371 N Vermilion St - Department Store FOR SALE


Danville, IL 61832
$1,914,815 USD
773-963-2637
3371 N Vermilion St, Danville, IL for Sale
$1,914,815 USD
Department Store - FOR SALE
1/1
null | 6.75% Cap Rate

3371 N Vermilion St
Danville, IL 61832


HIGHLIGHTS

  • Long-Term, Net Lease
  • Attractive Rent Escalation
  • Corporate Guaranty
  • High Residual Value with Replaceable Rent
  • Retail Corridor with Proximity to Danville Village Mall
  • Excellent Access and Visibility on Primary Thruway

OVERVIEW

Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee-simple interest in the Harbor Freight asset located in Danville, Illinois (“The Property”). The Property consists of a 23,500-square-foot freestanding retail building on a 1.56-acre parcel of land. Harbor Freight is operating under a net lease with 7+ years of primary base lease term remaining, offering a passive investment asset with long-term, stable cash flows. Additionally, this lease features rent escalations of 10% every 5 years, providing investors with a significant hedge against inflation. On top of this, investors are able to acquire a building at a low price point ($81.48/SF), with a tenant paying below market rent ($5.50/SF). See Lease Abstract for full details.

FOR SALE DETAILS

PRICE

$1,914,815 USD

PRICE/SF

$81 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harbor Freight Tools | Long-Term, Net Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1997

SPRINKLERS

-

PARKING SPACES

92

LAND DETAILS

LAND ACRES

1.56 AC

LAND SF

67,954 SF

ZONING

B-1

APN/PARCEL ID

18-20-400-029

ASK ABOUT THIS PROPERTY

Isaiah HarfNorthmarqMore Info
773-963-2637

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Isaiah HarfNorthmarqMore Info
773-963-2637

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