Savers Storefront with Double-Net
For Sale
Contact for pricing
303 Homer M Adams Parkway, Alton, IL 62002
Freestanding retail property leased to a nationally recognized thrift-store operator under a corporate-backed agreement.
Property Size18,018 SF
Price / SF$172.05
Days on Market71
Property Features for 303 Homer M Adams Parkway
General Information
Standard status
Active
Size
18,018 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$216,216
Building Details
Year Built
2005
Tenancy
Single
Listing Agency:
Sands Investment Group
Listed By:
Evan Beeson · License #IL 475182760
(773) 352-8784
Source:
Crexi
Added: Jul 29
Changed: Oct 6
Last Checked: Oct 7 at 9:05AM
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 Sands Investment Group
Investment Insights
Based on property information with market context.
Built in 2005, the 18,018 SF storefront in Alton is occupied by Savers, a thrift retail brand operated by TVI, Inc. The building is subject to a corporate-guaranteed lease with a Double Net (NN+) structure, providing a defined contractual framework for the existing tenancy.
The property is located at 303 Homer M Adams Parkway in Alton, IL 62002. The current base term has 9 years remaining, followed by 4 x 5-year renewal options. TVI, Inc. operates Savers/Value Village and is identified as a subsidiary of Savers Value Village, Inc., which trades on the NYSE under SVV.
The property is located at 303 Homer M Adams Parkway in Alton, IL 62002. The current base term has 9 years remaining, followed by 4 x 5-year renewal options. TVI, Inc. operates Savers/Value Village and is identified as a subsidiary of Savers Value Village, Inc., which trades on the NYSE under SVV.
Key Highlights
- 18,018 SF storefront built in 2005
- Savers retail tenancy operated by TVI, Inc.
- Corporate‑guaranteed Double Net (NN+) lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$221,124
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,422,480
$4.4M
Cap Rate 7%
$3,158,914
$3.2M
Cap Rate 9%
$2,456,933
$2.5M
Market Conditions
NOI Build-Up for 18,018 SF
Gross rent
$324.3K $18.00/SF
− Vacancy
−$8.4K −$0.47/SF
EGI
$315.9K $17.53/SF
− OpEx
−$94.8K −$5.26/SF
NOI
$221.1K $12.27/SF
Area
Madison County, IL
Vacancy
2.60%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,422,480
Cap Rate 7%
$3,158,914
Cap Rate 9%
$2,456,933
Alternative Uses
Best Use
Retail
$3.16M
$2.76M – $3.69M
NOI $221,124 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.91M
$4.30M – $5.73M
NOI $343,783 @ 7.0% cap · market cap 11.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
277k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 39%
Superstores 23%
Apparel 15%
Home Improvements & Furnishings 12%
Target
Superstores
62,425 visits/mo
0.2 miles
JCPenney
Apparel
39,710 visits/mo
0.2 miles
Lowe's
Home Improvements & Furnishings
28,785 visits/mo
0.4 miles
Taco Bell
Dining
15,589 visits/mo
0.3 miles
Applebee's
Dining
15,150 visits/mo
0.3 miles
Demographics for 62002, IL
30,176
Population
14,832
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
41.3 sq mi
ZIP Area
731
Density / Sq Mi
$57,851
Median Household Income
$38,120
Median Earnings
$941
Median Rent
$114,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Dick's Flowers, Inc. — 34 E Delmar Ave, Alton, IL 62002
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding retail property leased to a nationally recognized thrift-store operator under a corporate-backed agreement.
Where is this storefront property located?
The property is located at 303 Homer M Adams Parkway Alton, IL.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: 18,018 SF storefront built in 2005; Savers retail tenancy operated by TVI, Inc.; Corporate‑guaranteed Double Net (NN+) lease
