121 Northwest Hwy Barrington, IL 60010

Property Details for 121 Northwest Hwy

Year built

1990

Lot size

0.92 lot acres

Property size

10,000 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 10,000-square-foot, Class B shopping center in Barrington, Illinois. Anchored by a JC Licht Benjamin Moore Paint & Decor store, this multi-tenant property boasts 100% occupancy across five service-oriented tenants, generating a substantial net operating income (NOI) of $163,821. The property features two buildings constructed in 1990, situated on a 0.92-acre lot with commercial zoning. The current lease structure is NN+, with a remaining term of three years. The asking price is $2,158,100, representing a compelling cap rate of 7.59% and a price per square foot of $215.81. This stabilized investment offers significant potential for value-add opportunities. The property enjoys excellent visibility and accessibility, with two points of ingress and egress on South Northwest Highway, a high-traffic area with over 36,000 vehicles daily. There's potential to develop up to an additional 5,000 square feet between the existing buildings, subject to Barrington building department approval. The property benefits from a strong demographic profile, with a population of 96,000 within a 5-mile radius and an average household income exceeding $200,000 within a 1-mile radius. Nearby retailers include Starbucks, CVS, Dunkin' Donuts, Verizon Wireless, and Jimmy Johns. This fee-simple ownership offers a rare chance to acquire a well-positioned, high-performing retail asset in a thriving market.

Location Insight

City

Barrington

County

Cook

State

Illinois

Longitude

-88.1278

Latitude

42.1529