5200 Elm StMcHenry, IL 60050

For Sale
$1,500,000

15-Year NNN Lease, Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 3,000 square foot storefront and auto shop in McHenry, IL, featuring a 15.3-year absolute NNN lease with Strickland Brothers, a corporation operating over 200 locations across 24 states. The lease commenced May 31, 2022, and expires August 30, 2037, leaving a substantial 12.8 years remaining. The property boasts a 7.00% cap rate and a strong net operating income (NOI) of $104,975. Rent increases by 10% every five years, providing significant long-term growth potential. The property, built in 1996 and renovated in 2022, sits on a 0.39-acre lot with seven parking spaces. The tenant is backed by a corporate guarantee, mitigating risk. The lease includes four, five-year renewal options. This fee-simple ownership offers exceptional value in a prime location with excellent visibility and access, experiencing 100% occupancy since its May 31, 2022 opening. The property benefits from its proximity to major employers, educational institutions, and healthcare facilities, serving a thriving trade area with a population exceeding 99,136 residents and an average household income of $105,245. The property's strategic location, coupled with the strength of the tenant and the lease terms, makes this a compelling investment opportunity. The property is located at 5200 W Elm St, McHenry, IL 60050.

Highlights

  • High visibility location with excellent access, averaging 19,400 cars per day.
  • Strong trade area with 58,338 residents.
  • Affluent demographics boasting an average household income of $105,245.
  • Proximity to multiple K-12 schools totaling 2,246 students.
  • 3.5 miles from Northwestern McHenry Hospital (179 beds, 700+ employees).
  • Conveniently located near McHenry County College (7,473 students, 1,000+ employees).

Property Details for 5200 Elm St

Property type
Other retail properties, Automotive properties
Square Feet
3,000 SF
Year Built/Renovated
1996/2022
Lot Size (sq. ft)
16,988 SF

Location Insight

City
McHenry
County
McHenry
State
Illinois
Latitude
42.3503417
Longitude
-88.2985469
5200 Elm St, McHenry, Illinois

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5200 Elm St
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