108 Main St Savanna, IL 61074-1932
Property profile & analytics
108 Main St Savanna, IL 61074-1932
- Retail properties & Spaces
- 0.84 lot acres
Property ID
US28-4040732
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Retail properties & Spaces
Property Details for 108 Main St
- Lot size
- 0.84 lot acres
- Property type
- Retail properties & Spaces
- APN
- 08-07-09-201-047
- APU
- 80709201047
Description
This exceptional investment opportunity presents a 13,519-square-foot Ace Hardware store in Savanna, Illinois, situated on a 0.84-acre lot at 108 Main St, zip code 61074. The property is subject to a 15-year absolute NNN lease (commencing June 20, 2023), with 13.5 years remaining, featuring four 5-year renewal options and flat rent bumps. The tenant, Ace Hardware, enjoys a strong market position as the only hardware store within a 10-mile radius. The current annual net operating income (NOI) is $45,000, representing a 6.00% capitalization rate on the $750,000 asking price. The lease features a low rent of $3.00 per square foot, resulting in a low rent-to-sales ratio. The property offers a compelling value proposition at $55.48 per square foot, significantly below replacement costs. This free-standing building presents a secure, passive income stream with minimal landlord responsibilities, making it an attractive addition to any investment portfolio. The tenant, part of the Coborn's company (reporting $1.4 billion in annual revenue), operates a successful and tenured store at this location. This property is a rare opportunity to acquire a well-established, high-performing retail asset in a stable market. The property's location is advantageous, being only a half-mile from the tenant's corporate office and regional distribution center.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Savanna
- County
- Carroll
- State
- Illinois
- Longitude
- -90.1552
- Latitude
- 42.0921
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$9,559
$37,083
$47,340
$84,423
-
$111,360
$142,162
$253,523
