Auto Parts Retail NNN
For Sale
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2507 Grand Avenue, Waukegan, IL 60085
NNN retail lease with tenant responsibility for taxes, CAM, insurance, and parking lot expenses.
Property SizeContact for details
Days on Market131
Property Features for 2507 Grand Avenue
General Information
Standard status
Active
Property subtype
Retail
Listing Agency:
Matthews
Listed By:
Dan Willis · License #00524638
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 22 at 10:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
This offering is a net-lease retail property with an existing lease structured on tenant responsibility for taxes, CAM, insurance, and parking lot expenses. The lease also allocates roof/structure responsibilities to the landlord, with an original term of 10 years. Rent commenced on August 4, 2004, and the lease is set to expire March 31, 2022, leaving approximately 4.5 years remaining per the current terms.
The lease includes rent increases of 6.0% every five years and provides for three (3) five-year renewal periods. The lease guarantor is O’Reilly Automotive Stores, Inc., which is publicly traded on NASDAQ (ORLY). The tenant is identified as a multi-store operator, with 4,935 store locations across 47 states (based on the information provided in the remarks).
For additional lease structure details, including payment mechanics under the NN taxes/CAM/insurance arrangement, please request the full lease abstract.
The lease includes rent increases of 6.0% every five years and provides for three (3) five-year renewal periods. The lease guarantor is O’Reilly Automotive Stores, Inc., which is publicly traded on NASDAQ (ORLY). The tenant is identified as a multi-store operator, with 4,935 store locations across 47 states (based on the information provided in the remarks).
For additional lease structure details, including payment mechanics under the NN taxes/CAM/insurance arrangement, please request the full lease abstract.
Key Highlights
- NNN retail lease: tenant responsible for taxes, CAM, insurance, and parking lot expenses
- Original lease term was 10 years, starting August 4, 2004
- Lease expiration March 31, 2022, with approximately 4.5 years remaining in the primary term
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,068
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
McDonald's
Dining
23,809 visits/mo
0.1 miles
Dunkin' Donuts
Dining
5,303 visits/mo
0.3 miles
China Garden
Dining
2,835 visits/mo
0.1 miles
Demographics for 60085, IL
71,609
Population
26,781
Households
2.7
Avg Household Size
33
Median Age
19%
College-Educated
74%
High-School Grad
14.8 sq mi
ZIP Area
4,838
Density / Sq Mi
$64,330
Median Household Income
$35,645
Median Earnings
$1,133
Median Rent
$164,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - NNN retail lease with tenant responsibility for taxes, CAM, insurance, and parking lot expenses.
Where is this nnn property located?
The property is located at 2507 Grand Avenue Waukegan, IL.
What are key features of this property?
This property features: NNN retail lease: tenant responsible for taxes, CAM, insurance, and parking lot expenses; Original lease term was 10 years, starting August 4, 2004; Lease expiration March 31, 2022, with approximately 4.5 years remaining in the primary term
