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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).
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
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