420 Virginia St Crystal Lake, IL 60014-5936

Property Details for 420 Virginia St

Year built

2008

Lot size

0.33 lot acres

Property size

2,872 SF

Property type

Commercial real estate

APN

19-06-284-021

APU

1906284021

Description

This exceptional investment opportunity presents a fee-simple Taco Bell franchise located at 420 W Virginia St, Crystal Lake, IL 60014. Boasting 2,872 square feet on a 0.43-acre lot, this property features a strong absolute NNN lease with approximately 9.5 years remaining on the initial term, followed by four, five-year renewal options. The lease includes 10% rent increases every five years, providing a hedge against inflation. The tenant, a franchisee of Ampler Restaurant Group (a large, experienced operator of over 475 units), guarantees the lease. Built in 2008 and renovated in 2021, this top-performing location benefits from exceptional visibility on a major thoroughfare with over 30,000 vehicles per day. Its proximity to The Commons of Crystal Lake, a prominent shopping center, and a major redevelopment project, further enhances its value. The property enjoys strong demographics, situated within a 5-mile radius boasting an average household income exceeding $123,000 and a population of over 115,000 residents. The asking price is $2,920,035, representing a 5.70% cap rate and a NOI of $166,442. This is a passive investment opportunity in a prime location within the third-largest metropolitan area in the country. The lease commenced May 1, 2019, and expires January 7, 2034.