2-Unit Retail Center Shadow Anchored by ALDI — Sale in Round Lake Beach, IL
- Price: Contact for price
- Listing type: For sale
- Asset type: Retail Property
- Location: Round Lake Beach, IL 60073
- Year built: 2008
Photos
Investment Figures
- Cap rate
- 8.25%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a 6,000 square foot, two-unit retail center in Round Lake Beach, Illinois. Positioned on the outparcel to a high-traffic ALDI grocery store, this adjacent traffic driver acts as a shadow anchor to the subject property. Placer.ai projects the neighboring ALDI in the top 15 percent of all plus 2,400 ALDI locations in the United States and projects their sales per square foot at $665. With its location at the 50-yard line of the Rollins Road retail node, the property also benefits from visibility to over 30,000 vehicles per day. Ownership just extended both the laundromat lease, as well as the bakery lease, for five years with 3 percent annual increases. The leases are fully NNN with above market landlord protections, particularly within the context of a shopping center lease. The owner of the bakery just bought the laundromat business and also maintains the right to operate a food truck in the parking lot. Given the multiple revenue streams, this operator is set up for success, and his livelihood is not overly tied to one business model. Laundromats are an especially sticky retail use given the enormous investment in plumbing infrastructure required for such a use. At the 8.25 percent asking cap rate, the property is priced to produce positive leverage. Further, the annual rent increases push the in-place cap rate 25 basis points annually. When you factor in how much the leases insulate the landlord from capital expenses, the cash flow projections appear even more durable. This is a unique opportunity to buy a well-located property at an attractive yield, with meaningful near-term upside from the leases’ rent increases alone. If one considers the multiple residual uses for a high-traffic grocery store outparcel with excellent visibility, access and frontage – on a .72 acre land parcel no less – then the property only becomes more compelling. Investment Highlights: • Well-L
Market Context
This retail in Round Lake Beach, IL is listed for sale. It is offered at an approximate 8.2% capitalization rate, a key benchmark for income-producing retail assets. The building dates to 2008. Compare it against other retail listings for sale in Round Lake Beach, IL — view the full market.
Contact the listing broker
This listing comes from the Marcus & Millichap website. CREhunt does not pass messages to the broker. Contact the broker directly.
- Mitchell Kiven · (312) 624-7006 · mitchell.kiven@marcusmillichap.com
- Peter Doughty · (312) 327-5470 · peter.doughty@marcusmillichap.com
Questions to ask the broker
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- What is the asking price?
- What is the current zoning, and does it allow my intended use?
- How many parking spaces come with the property?
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