24431 Il-134Round Lake, IL 60073

For Sale
$3,100,000

IL Animal Hospital - NNN Investment

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple interest in a 6,500 square foot, single-story animal hospital in Round Lake, IL. The property, built in 1979 and situated on a 0.41-acre lot, boasts 32 parking spaces and enjoys a prime location on IL-134, offering superior visibility with significant street frontage and a monument sign. Currently 100% occupied by VetCor under a NNN lease with a corporate guarantee, the lease commenced March 7, 2023, and has a remaining term of approximately 3.3 years, with three 5-year renewal options. The lease includes annual rent bumps of 2%, ensuring consistent income growth. The property generates a strong NOI of $204,000, resulting in a 6.58% cap rate at an asking price of $3,100,000 ($476.92/sq ft). Landlord responsibilities are limited to roof, parking lot, foundations, floor slabs, exterior walls and windows, points of entry, electrical wiring, gutters, downspouts, subfloors, water, sewer and electric service from a public right of way to the Premises, HVAC and septic system. The property benefits from a high-traffic location near CVS, Dunkin', Chase Bank, and Kohl's, serving a 5-mile trade area with a population of 126,263 and 21,920 daytime employees, boasting an average household income of $122,513. This presents a low-management, passive investment opportunity with significant upside potential. APN: 06-19-401-004.

Highlights

  • Five-year remaining lease term.
  • Three, five-year tenant renewal options.
  • Lease includes 2% annual rent increases.
  • Tenant, VetCor, operates over 800 locations nationwide.
  • High visibility location with significant street frontage and monument signage on IL-134.
  • Excellent location on IL-134, with 7,535 average daily traffic count.

Property Details for 24431 Il-134

Property type
Other retail properties, Medical space
Square Feet
6,500 SF
Year Built
1979
Buildings
1
Stories
1
Lot Size (sq. ft)
17,860 SF

Location Insight

City
Round Lake
County
Lake
State
Illinois
Latitude
42.362759932101
Longitude
-88.110246810471
24431 Il-134, Round Lake, Illinois

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24431 Il-134
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