Net Leased Firestone in the Northwest Suburbs at 7.8% Cap
The Details
- 7,575 SF auto-repair retail location
- 100% net leased to Firestone through December 31, 2023
- Four 5-year renewal options
- Projected 2019 NOI: $231,643
- Features 10 service bays, office
- Build-to-suit developed in 2008
- Located within strong retail area
- Nearby businesses include Walmart, Dick’s Sporting Goods, JCPenney, TJ Maxx, Ulta Beauty, Chase, Verizon and more
- Land Area: 66,328 SF
- Zoning: C-5, highway commercial
A 7,575 square foot auto-repair retail location developed in 2008 is available for sale. Developed as a build-to-suit, the property is net leased to Firestone through 2023. Firestone has four 5-year renewal options, each of which includes a 6.5% increase in rent. Used as a Firestone Complete Auto Care Center, the property has 10 service bays, an office area and ample room for parking. Net leased to a nationally-recognized brand, this property is a great opportunity for an investor or a 1031 buyer.
Located 50 miles northwest of Chicago, McHenry is a diverse community on the Fox River. Near the border of McHenry and Johnsburg, this property is part of a strong retail area that has attracted a variety of national retailers including Walmart, JCPenney, Dick’s Sporting Goods and more.