400 State Rte McHenry, IL 60050
- Lifestyle centers
- 15,503 SF
- 1.97 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 400 State Rte
- Year built
- 1960
- Lot size
- 1.97 lot acres
- Property size
- 15,503 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 15,503 square foot, multi-tenant retail center in McHenry, IL, boasting a 7.25% cap rate and a strong NOI of $329,203. The property, situated on a 1.97-acre lot at 400 State Route 31, features five tenants including a brunch cafe, meat & potato eatery, and salon, all operating under favorable net leases with a remaining term of 6.4 years. Built in 1960 and renovated in 2010, this single-story building offers 108 parking spaces and benefits from excellent visibility and accessibility with multiple points of ingress/egress from State Route 31 and Bank Drive (27,355 VPD). The C-5 zoning allows for a variety of uses. Located less than a mile from Northwestern Medicine McHenry Hospital, this stabilized investment is surrounded by a thriving retail environment including Starbucks, McDonald's, and more, serving a substantial population with an average household income exceeding $123,400 within a 5-mile radius. This 100% occupied property offers a compelling return on investment with a proven track record of success. The asking price is $4,540,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- McHenry
- County
- McHenry
- State
- Illinois
- Longitude
- -88.2742
- Latitude
- 42.3226
