24431 Il-134 Round Lake, IL 60073

Property Details for 24431 Il-134

Year built

1979

Lot size

0.41 lot acres

Property size

6,500 SF

Property type

Retail properties

Property subtype

Medical space

Description

This exceptional investment opportunity presents a fee-simple interest in a 6,500 square foot, single-story animal hospital in Round Lake, IL. The property, built in 1979 and situated on a 0.41-acre lot, boasts 32 parking spaces and enjoys a prime location on IL-134, offering superior visibility with significant street frontage and a monument sign. Currently 100% occupied by VetCor under a NNN lease with a corporate guarantee, the lease commenced March 7, 2023, and has a remaining term of approximately 3.3 years, with three 5-year renewal options. The lease includes annual rent bumps of 2%, ensuring consistent income growth. The property generates a strong NOI of $204,000, resulting in a 6.58% cap rate at an asking price of $3,100,000 ($476.92/sq ft). Landlord responsibilities are limited to roof, parking lot, foundations, floor slabs, exterior walls and windows, points of entry, electrical wiring, gutters, downspouts, subfloors, water, sewer and electric service from a public right of way to the Premises, HVAC and septic system. The property benefits from a high-traffic location near CVS, Dunkin', Chase Bank, and Kohl's, serving a 5-mile trade area with a population of 126,263 and 21,920 daytime employees, boasting an average household income of $122,513. This presents a low-management, passive investment opportunity with significant upside potential. APN: 06-19-401-004.

Location Insight

City

Round Lake

County

Lake

State

Illinois

Longitude

-88.1102

Latitude

42.3628