422-550 E Rollins Rd - Freestanding FOR SALE


Round Lake Beach, IL 60073
$10,452,000 USD
480-221-4221
422-550 E Rollins Rd, Round Lake Beach, IL for Sale
$10,452,000 USD
Freestanding - FOR SALE
1/8
null | 7.5% Cap Rate

422-550 E Rollins Rd
Round Lake Beach, IL 60073


HIGHLIGHTS

  • Brand New 12-Year Lease Extension | Corporate Signature | Scheduled Rental Increases | 200 BPS Higher Than Latest Comp
  • Net Leased | Fee Simple Ownership | Minimal Landlord Responsibilities
  • Rollins Crossings (1.6M+ Visitors) | Adjacent to High Performing Meijer | Dense Retail Corridor | National/Credit Tenant Presence
  • Densification Through Upside Opportunity | Adjacent 3.37 Acre Land Pad Available
  • Chicago MSA | Strong Demographics in 5-Mile Trade Area | Six Figure Incomes

OVERVIEW

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a net leased, corporate signed, LA Fitness investment property located in Round Lake Beach, IL (Chicago MSA). The tenant, Fitness International, LLC, recently signed a 12-year lease term extension with 2 (5-year) options to extend, demonstrating their commitment to the site. The lease features a 10% rental increase in August 2030, as well as 10% increases at the beginning of each option period, growing NOI and hedging against inflation. Additionally, as part of the extension an additional $1.6M investment will be made into the space. The lease features minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor.

FOR SALE DETAILS

PRICE

$10,452,000 USD

PRICE/SF

$141 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

LA Fitness | New 12yr Corp Net Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Health Club

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

360

LAND DETAILS

LAND ACRES

3.27 AC

LAND SF

142,441 SF

ZONING

-

APN/PARCEL ID

06-16-201-012,06-16-201-014

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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