2031 Gary AveWheaton, IL 60187

For Sale
$3,007,000

High-Yield NNN Gas Station Investment

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a 20-year absolute NNN ground lease to Thorntons, a wholly-owned subsidiary of BP (NYSE:BP), at 2031 N Gary Avenue in Wheaton, Illinois. The 4,400 square foot convenience store and gas station, built in 2024, sits on a 1.6-acre lot and features eight gas pumps. The property benefits from a prime location at a signalized intersection with high traffic counts (Gary Avenue: 16,100 AADT; Geneva Road: 26,900 AADT), offering excellent visibility and accessibility. The strong demographics are highlighted by an average household income of $182,091 within one mile and an average home value of $533,186 within the same radius. The Wheaton location, approximately 25 miles from downtown Chicago, is within the Chicago-Naperville-Elgin Metropolitan Statistical Area, a robust economy with over 9.5 million people. The lease includes six five-year options with 10% rent bumps every five years and at each option renewal. The current NOI is $160,875, resulting in a 5.35% cap rate, and the asking price is $3,007,000. This is a secure, passive income investment with a strong tenant and significant upside potential due to the lease terms and location within a thriving metropolitan area. The property's location within DuPage County, Illinois, and its proximity to a major metropolitan area contribute to its high value and potential for long-term growth. The substantial population within a five-mile radius (240,319) further underscores the property's strong market position.

Highlights

  • 20-Year Absolute NNN Ground Lease to Thorntons.
  • 10% rent increases every five years.
  • Thorntons, a BP subsidiary, operates over 200 locations.
  • Investment-grade tenant (BP, NYSE:BP).
  • High-income area: $182,091 average household income within one mile.
  • Convenient location, approximately 25 miles from Downtown Chicago.

Property Details for 2031 Gary Ave

Property type
Other retail properties, Automotive properties
Square Feet
4,400 SF
Year Built
2024
Lot Size (sq. ft)
69,696 SF

Location Insight

City
Wheaton
County
DuPage
State
Illinois
Latitude
41.8871132
Longitude
-88.1207481
2031 Gary Ave, Wheaton, Illinois

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2031 Gary Ave
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