6125 2Nd St Loves Park, IL 61111

Property Details for 6125 2Nd St

Year built

1968

Lot size

1.20 lot acres

Property size

14,778 SF

Property type

Warehouses

Property subtype

Lifestyle centers

Description

This exceptional investment opportunity presents a 14,778 square foot, fully occupied retail shopping center and storage facility situated on a 1.2-acre lot in Loves Park, Illinois. The property, built in 1968 and extensively renovated in 2017, boasts seven retail units and six additional storage units, generating a substantial net operating income (NOI) of $114,071, representing a 9.13% cap rate. The asking price is $1,250,000, translating to $84.59 per square foot. The property features a desirable triple-net (NNN) lease structure and benefits from a prime location with 162 feet of frontage on North 2nd Street, offering excellent visibility and accessibility. Recent improvements include upgraded pylon signage, five new HVAC units installed in 2018, and parking lot maintenance. The property is zoned for commercial use and is located within a Tax Increment Financing (TIF) district and Enterprise Zone, offering potential tax advantages. The convenient location near Interstate 90 provides easy access to major transportation routes. This is a rare opportunity to acquire a high-performing, well-maintained retail center with significant upside potential. The property includes a 1,706 square foot storage garage with five 8x8' units and one 16x8' unit. The property is located in Winnebago County, Illinois, with the address being 6125 N 2nd St, Loves Park, IL 61111. The property consists of one single-story building.

Location Insight

City

Loves Park

County

Winnebago

State

Illinois

Longitude

-89.0575

Latitude

42.3191