Freestanding Petco Retail
For Sale
Contact for pricing
17930 S Halsted Street, Homewood, IL 60430
Fee-simple NNN asset leased to Petco under long-term terms through May 2033, within Washington Park Plaza.
Property Size15,099 SF
Price / SF$213.33
Days on Market55
Property Features for 17930 S Halsted Street
General Information
Standard status
Active
Size
15,099 SF
Class
B
Property subtype
Retail
Zoning
B-4: Shopping Center District - Planned Unit Development
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$241,584
Building Details
Year Built
2005
Tenancy
Single
Listing Agency:
CBRE - Oak Brook
Listed By:
Keegan Barrett · License #475190002
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 10 at 1:02PM
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 CBRE - Oak Brook
Investment Insights
Based on property information with market context.
This freestanding Petco property offers a fee-simple opportunity with a net lease structure. The building is currently leased to Petco Animal Supplies Stores, Inc., operating as Petco, under a long-term NN lease. In May 2026, the tenant exercised its second lease extension early at contractual rent with no concessions, extending occupancy through May 2033.
The site is positioned as an anchor within Washington Park Plaza in Homewood, Illinois. The center includes national retailers such as T.J. Maxx, Ross Dress for Less, Old Navy, Five Below, and Best Buy. The plaza draws approximately 2.8 million annual visitors, supporting an active day-to-day shopping environment around the Petco location.
For investors or operators seeking a stabilized, single-tenant retail exposure, the property is aligned with Petco’s focus on pet health and wellness goods and services. Petco Health and Wellness Company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, along with pet consumables, supplies, and related offerings. With the tenant committed through May 2033 under the NN structure, the asset is a fit for buyers comfortable with long-term net leasing and a nationally recognized operator.
The site is positioned as an anchor within Washington Park Plaza in Homewood, Illinois. The center includes national retailers such as T.J. Maxx, Ross Dress for Less, Old Navy, Five Below, and Best Buy. The plaza draws approximately 2.8 million annual visitors, supporting an active day-to-day shopping environment around the Petco location.
For investors or operators seeking a stabilized, single-tenant retail exposure, the property is aligned with Petco’s focus on pet health and wellness goods and services. Petco Health and Wellness Company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, along with pet consumables, supplies, and related offerings. With the tenant committed through May 2033 under the NN structure, the asset is a fit for buyers comfortable with long-term net leasing and a nationally recognized operator.
Key Highlights
- Fee‑simple interest in a freestanding Petco anchored within Washington Park Plaza in Homewood, Illinois
- Leased to Petco Animal Supplies Stores, Inc. (Petco) under a long‑term NN lease
- Lease extension exercised early in May 2026; tenancy continues through May 2033 at contractual rent with no concessions
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$209,577
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,191,540
$4.2M
Cap Rate 7%
$2,993,957
$3.0M
Cap Rate 9%
$2,328,633
$2.3M
Market Conditions
NOI Build-Up for 15,099 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$326.1K $21.60/SF
− Vacancy
−$26.7K −$1.77/SF
EGI
$299.4K $19.83/SF
− OpEx
−$89.8K −$5.95/SF
NOI
$209.6K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,191,540
Cap Rate 7%
$2,993,957
Cap Rate 9%
$2,328,633
Alternative Uses
Best Use
Retail
$2.99M
$2.62M – $3.49M
NOI $209,577 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.21M
$4.56M – $6.08M
NOI $364,910 @ 7.0% cap · market cap 11.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
42k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 66%
Shops & Services 34%
Aldi
Groceries
27,945 visits/mo
0.1 miles
Chase Bank
Shops & Services
10,413 visits/mo
0.1 miles
AutoZone
Shops & Services
2,677 visits/mo
0.1 miles
O'Reilly Auto Parts
Shops & Services
1,278 visits/mo
0.1 miles
Demographics for 60430, IL
20,146
Population
7,662
Households
2.6
Avg Household Size
42
Median Age
46%
College-Educated
96%
High-School Grad
6.9 sq mi
ZIP Area
2,920
Density / Sq Mi
$91,402
Median Household Income
$48,509
Median Earnings
$1,419
Median Rent
$209,100
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?
Storefront property - Fee-simple NNN asset leased to Petco under long-term terms through May 2033, within Washington Park Plaza.
Where is this storefront property located?
The property is located at 17930 S Halsted Street Homewood, IL.
What is the asking price?
The asking price for this property is $3,221,000.
What are key features of this property?
This property features: Fee‑simple interest in a freestanding Petco anchored within Washington Park Plaza in Homewood, Illinois; Leased to Petco Animal Supplies Stores, Inc. (Petco) under a long‑term NN lease; Lease extension exercised early in May 2026; tenancy continues through May 2033 at contractual rent with no concessions
