425 First St - Office FOR SALE


Savanna, IL 61074
$925,000 USD
405-205-8489
425 First St, Savanna, IL for Sale
$925,000 USD
Office - FOR SALE
1/16
null | 7% Cap Rate

425 First St
Savanna, IL 61074


HIGHLIGHTS

  • Absolute NNN Leased 7,200 SF Office Building and 6,000 SF Warehouse
  • Strategically Positioned on the Eastern Shore of the Mississippi River with Excellent Access to the River as well as the BNSF Railroad
  • In June 2023, Coborn's (St. Cloud) Acquired the J.B. Sullivan Chain and Continues to Utilize this Office as Headquarters for Sullivan's Foods
  • Coborn's Now Manages 66 Grocery Stores and 135 Business Units Across Various Sectors

OVERVIEW

SHOP Companies is exclusively retained to offer for sale an absolute NNN leased J.B. Sullivan Inc. Office & Warehouse, located in downtown Savanna, Illinois. ("The property") features a 7,200-square-foot office building alongside a 6,000-square-foot warehouse. The absolute NNN lease (no landlord responsibilities) has 3.5 years remaining along with four (4), 5 year option periods. The property is strategically positioned on the eastern shore of the Mississippi River along the Illinois-Iowa border. The property benefits from excellent access to the river and the BNSF railroad running directly behind it. Savanna is a key market for Sullivan's Foods, where the company opened its first grocery store in 1967, just down the street from the subject property. Today, Sullivan's Foods continues to operate at that original location, along with two additional retail sites in Savanna: Ace Hardware and Savanna Station Convenience Store. In June 2023, Minnesota-based Coborn's acquired the J.B. Sullivan chain of grocery stores, which will continue operating under the Sullivan's Foods name. With this acquisition, Coborn's now manages 66 grocery stores and a total of 135 business units, including liquor stores, fuel centers, dry cleaners, pharmacies, and franchised restaurants. Coborn's grocery banners now include Sullivan's Foods, Cash Wise Foods, Marketplace Foods, Hornbacher's, and Tadych's Marketplace Foods. In Association with ParaSell, Inc. | Costa Mesa, California | A Licensed Illinois Broker #478027307

FOR SALE DETAILS

PRICE

$925,000 USD

PRICE/SF

$128 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

J.B. Sullivan Inc. Office & Warehouse

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.67 AC

LAND SF

72,745 SF

ZONING

-

APN/PARCEL ID

08-07-09-201-008

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.