5950 Northwest HwyCrystal Lake, IL 60014

For Sale
$3,642,400

Panera & Jamba Juice, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple interest in a 5,975-square-foot retail building situated on a 1.83-acre lot in Crystal Lake, Illinois. The property boasts 100% occupancy with two established tenants: Panera Bread and Jamba Juice, enjoying a combined operational history exceeding 42 years. Panera recently committed to a new 10-year lease extension, highlighting the location's strength and the tenant's long-term commitment. This multi-tenant property generates a substantial net operating income (NOI) of $233,172, yielding a compelling 6.75% cap rate. The asking price is $3,642,400. Built in 1999, the property is strategically located in a prime retail corridor within Crystal Lake, a thriving suburb approximately 50 miles northwest of Chicago, within the third-largest metropolitan area in the United States. The property's location within the densely populated and affluent Chicago MSA, coupled with its strong tenant mix, recent lease extension, and low vacancy rates, makes it an attractive investment prospect. The property is an outparcel pad site to Crystal Point Shopping Center, further enhancing its visibility and accessibility. This net lease investment offers a highly passive income stream with significant potential for future growth and lease renewals. The property's financial performance and location within a robust market make it a compelling opportunity for discerning investors.

Highlights

  • Investment opportunity in affluent Chicago suburban MSA.
  • Strong historical occupancy with a mix of leading fast-casual tenants.
  • Panera Bread recently signed a 10-year lease extension with rent escalations.
  • Net-leased shopping center offering passive income.
  • Low vacancy and rent growth indicate high tenant demand and strong renewal potential.
  • Outparcel pad site available at Crystal Point Shopping Center.

Property Details for 5950 Northwest Hwy

Property type
Other retail properties, Restaurants
Square Feet
5,975 SF
Year Built
1999
Lot Size (sq. ft)
79,715 SF

Location Insight

City
Crystal Lake
County
McHenry
State
Illinois
Latitude
42.2266624
Longitude
-88.3141648
5950 Northwest Hwy, Crystal Lake, Illinois

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5950 Northwest Hwy
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