Auto Parts Retail NNN
2507 Grand Avenue Waukegan, IL 60085
2507 Grand Avenue, Waukegan, IL, 60085
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For Sale
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NNN retail lease with tenant responsibility for taxes, CAM, insurance, and parking lot expenses.
Days on Market104
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 Updated: Jul 22 at 10:50AM 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
Location Intelligence
Current Use by Public Records
O'Reilly Auto Parts
Auto Parts Store
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FAQs
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
