715 Mccambridge Ave Madison, IL 62060-1699
- Commercial land
- 0.02 lot acres
Aug 20, 2020
Current Use by Public Records
- Commercial land
Property Details for 715 Mccambridge Ave
- Lot size
- 0.02 lot acres
- Property type
- Commercial land
- APN
- 21-2-19-25-12-206-003
- APU
- 212192512206003
Description
This exceptional investment opportunity presents a freestanding Family Dollar store located at 715 Mccambridge Ave, Madison, IL 62060. The property boasts a 9,180 square foot building on a 1.86-acre lot, constructed in 2017. Currently operating under a triple-net (NNN) lease with zero landlord responsibilities, the lease commenced November 29, 2016, and extends until March 31, 2032, with six five-year renewal options. The asking price is $1,714,285, representing a 7.00% cap rate and a price per square foot of $186.74. The property enjoys a 100% occupancy rate, generating a net operating income (NOI) of $120,000. The tenant, Family Dollar, is a credit-rated, essential retailer, demonstrating resilience against economic downturns. The property benefits from a high-traffic location, with over 15,500 vehicles passing daily, and a strong demographic profile, including over 24,000 residents within a three-mile radius and over 100,000 within five miles. The lease includes a 10% rent increase during the final five years of the base term. The site is conveniently located within 15 miles (a 24-minute drive) of St. Louis Lambert International Airport, situated in the top 25 U.S. MSAs (St. Louis, MO MSA, ranked #23). Projected population growth within a one-mile radius is +2.30% through 2029. This is a rare opportunity to acquire a stable, high-performing retail investment with significant long-term potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Madison
- County
- Madison
- State
- Illinois
- Longitude
- -90.1485
- Latitude
- 38.6838
- CBSA code
- 41180
- CBSA name
- ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA
