20201 Rand Rd Palatine, IL 60074
- Commercial land
- 5.15 lot acres
Current Use by Public Records
- Grounds Group / Retaining Wall Supplier / Landscaper
- Mitch's Green Thumb Landscaping / Landscaper
- Fire & Water Restoration / Water Damage Restoration Service
Property Details for 20201 Rand Rd
- Lot size
- 5.15 lot acres
- Property type
- Commercial land
- APN
- 14-35-302-030
- APU
- 1435302030
Description
This exceptional investment opportunity presents a brand-new, 5,938 square-foot Thorntons gas station and convenience store situated on a 5.18-acre lot in Palatine, Illinois. Located at 20201 N Rand Rd (US Route 12), this property benefits from high visibility and traffic volume exceeding 49,700 vehicles per day. The property features a drive-thru and 15 fuel pumps. The absolute NNN ground lease boasts a 20-year primary term commencing June 1, 2023, and expiring May 31, 2043, with six 5-year options. Rent increases by 10% every five years, providing built-in inflation protection. The asking price is $7,775,000, representing a price per square foot of $1,309.36 and a 4.50% cap rate. The property's Net Operating Income (NOI) is $350,000, with 100% occupancy. This location is less than a mile from a major retail corridor encompassing over 1.1 million square feet of retail space, including prominent retailers such as Best Buy, Dick's Sporting Goods, and Whole Foods. The property's strategic location within the Chicago MSA (population 8.9 million) offers significant growth potential and strong demographics. This is an ideal investment for those seeking a low-maintenance, high-return asset with long-term, predictable cash flow. The property's APN is 1435302030.
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
- Palatine
- County
- Lake
- State
- Illinois
- Longitude
- -88.0422
- Latitude
- 42.1577
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
