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This exceptional investment opportunity presents a 4,000 square foot, 100% occupied retail center in Dixon, IL. The property, built in 2019, features two tenants: Domino's Pizza and Shopko Optical, both operating under net leases with a management fee reimbursement. Shopko Optical recently renewed their lease for five years, while Domino's has five years remaining, with option periods including 10% rental increases. The property boasts a prime location on a hard-corner, high-visibility lot (19,000 vehicles per day) with ample parking (41 spaces) and prominent pylon signage. Situated in a thriving retail corridor, the center benefits from its proximity to a Walmart Supercenter (2.3 million visits annually) and numerous other national and local businesses, including Starbucks, Aldi, and Tractor Supply Co. The area is experiencing significant growth, with several new developments completed or underway, including a large commercial project anticipated to create over 600 jobs. The property's strong fundamentals, including a 7.25% cap rate and a substantial NOI of $106,040, make it an attractive investment with a remaining lease term of 4.2 years. The 0.76-acre lot is located at 1600 S Galena Ave, Dixon, IL 61021, and features a single, one-story building. The asking price is $1,463,000 ($365.75/sq ft).
Highlights
Fully occupied two-tenant retail center anchored by Domino's Pizza and Shopko Optical.
Both tenants are on net leases with management fee reimbursements.
Strong tenants: Corporate Shopko Optical (140+ stores) and a successful multi-unit Domino's franchisee with a personal guarantee.
Long-term leases: Shopko recently renewed for five years; Domino's has five years remaining.
Excellent location: Major retail corridor shadow-anchored by a Walmart Supercenter.
High traffic: Hard-corner, signalized intersection near I-88, with 19,000 vehicles per day.
Property Details
for 1600 Galena Ave
Property type
Other retail properties, Restaurants
Square Feet
4,000 SF
Year Built
2019
Buildings
1
Stories
1
Lot Size (sq. ft)
33,106 SF
Units
2
Location Insight
City
Dixon
County
Lee
State
Illinois
Latitude
41.82844225
Longitude
-89.47588894
1600 Galena Ave, Dixon, Illinois
Nearby Similar for Sale
For Sale
$450,000
Dixon, IL QSR/Restaurant for Sale
Prime Dixon location, high-traffic corner. 3,223 sq ft.
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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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