105 IL-71, Newark, IL 60541

Building Details

Year built

2007

Floors in Building

2

Number of units

1

Building materials

Steel Siding

Roof type

Metal

Listing agent Brittany Zickus License #475197951 Show Phone

Listing office eXp Realty i***@expreatly.net 12 Main Street, Chicago, IL Show Phone

Listing date May 6, 2024

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MLS# 12048739

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Overview

This is a single-tenant retail property structured as a NNN (triple net) lease, presented as a turnkey option for a landlord or owner-operator. The offering is described as impeccably maintained and well run, with an owner open to either continuing to operate after a new ownership transition or vacating for an owner-operator.

The property is located at 105 IL-71 in Newark, Illinois, in Kendall County. It is positioned off IL-71 and is noted as being within walking distance to downtown Newark. The property is identified under zoning COMMR.

For prospective buyers or operators, the appeal is the straightforward nature of a single-tenant, triple net structure, with management continuity available depending on how the new owner wants to proceed. The seller also highlights the investment profile with a stated 7.16% cap rate, and the property is marketed as a “turnkey” opportunity that can accommodate either absentee ownership or hands-on operation following close.

Suggested Use

Spa & Massage Center Hair Salon Pharmacy Law Firm Gym & Fitness Center HVAC Service Grocery & Convenience Store Furniture & Home Goods Electronics & Wireless Store Electrical Service

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Newark

County

Kendall

State

Illinois

Longitude

-88.5214

Latitude

41.5124

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FAQs

What type of property is this?

Retail space - Single-tenant NNN retail investment offered turnkey, with access off IL-71 and a convenient walk to downtown Newark.

Where is this retail space located?

The property is located at 105 IL-71 Newark, IL.

What is the asking price?

The asking price for this property is $1,995,000.

What are key features of this property?

This property features: Solid 7.16% Cap Rate; Prime location off Rte. 71 and walking distance to downtown Newark; NNN Triple Net Lease