1805 Jefferson St Joliet, IL 60435-6673

Property Details for 1805 Jefferson St

Year built

1991

Lot size

0.53 lot acres

Property type

Commercial real estate

APN

30-07-07-412-006

APU

300707412006

Description

This exceptional investment opportunity presents a fee-simple interest in a thriving 2,979 square foot retail property located at 1805 W Jefferson St, Joliet, IL 60435. The property, situated on a 0.53-acre lot, houses a Circle K and Checkers restaurant operating under a brand new, absolute triple-net (NNN) lease. This provides significant long-term stability and minimal landlord responsibilities. The current lease boasts a 15-year initial term commencing April 5th, 2023, and expiring March 31st, 2038, with four 5-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) stands at $210,000, representing an attractive 8.40% capitalization rate based on the $2,500,000 asking price. The property benefits from its location in a major retail corridor, its proximity to the Marycrest Shopping Center, and its status as an outparcel to a grocery-anchored center. The $839.21 price per square foot reflects the strong value proposition of this 100% occupied, multi-tenant retail asset. This is a rare opportunity to acquire a high-performing, low-maintenance investment with significant long-term growth potential. The lease's built-in rent escalations ensure consistent income growth throughout the lease term. This property is ideal for investors seeking a secure, passive income stream with minimal management requirements.