1085 Hwy Forsyth, IL 62535

Property Details for 1085 Hwy

Year built

1990

Lot size

1.65 lot acres

Property size

15,586 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple ownership of a 15,586 square foot, ground-leased liquor store in Forsyth, Illinois. Located on a 1.65-acre lot at a prominent stoplight intersection at the entrance to Hickory Point Mall, this single-tenant property boasts high visibility and accessibility from US-51 and proximity to Interstate 72. The established tenant, operating for over 10 years with seven additional locations in Illinois and Missouri, holds a net lease with 3 years remaining on a 14.6-year term expiring November 29, 2027. The property generates a strong NOI of $162,436, representing an 8.25% cap rate on the asking price of $1,968,920 ($126.33/sq ft). The site benefits from significant daily traffic (24,400 vehicles per day on US-51) and is surrounded by strong retail drivers including major retailers, numerous hotels (nearly 800 rooms within one mile), and a golf course. The average household income within one mile is $135,459. The property includes 68 parking spaces and is situated in a high-growth area with a population of nearly 40,000 within a five-mile radius and 51,410 people working within the same area. Built in 1990, this one-story building presents a covered land play opportunity with potential future redevelopment possibilities as the tenant is currently out of options on their lease. The property's location at the entrance to Hickory Point Mall, a prominent retail destination with over 2.5 million visits in the last 12 months, further enhances its investment appeal. The APN is 07-07-22-227-004.

Location Insight

City

Forsyth

County

Macon

State

Illinois

Longitude

-88.9565

Latitude

39.92