904 State RteMcHenry, IL 60050

For Sale
$2,688,000

McHenry, IL: High-Yield, Long-Term Lease

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple interest in a newly constructed (2023), 2,250 square foot Starbucks located at 904 State Route 31, McHenry, IL, within the Chicago MSA. The property boasts a 15-year net lease (commencing September 1, 2023, and expiring February 28, 2039), with three five-year renewal options and 10% rent bumps in year 11 and at each option. The tenant, Starbucks Corporation, holds an investment-grade credit rating (BBB+/Stable by S&P Global Ratings), ensuring a secure and passive income stream. Situated on a 0.89-acre lot, the building features a drive-thru and outdoor seating, benefiting from high visibility on Route 31 (17,184 vehicles daily) and proximity to Northwestern Medicine McHenry Hospital. The property's strong location, long-term lease, and investment-grade tenant combine to offer a compelling investment with a 6.25% cap rate and a net operating income (NOI) of $168,000. The asking price is $2,688,000, translating to $74.67 per square foot. This is a rare opportunity to acquire a high-performing, passive income-generating asset in a desirable location. The property is 100% occupied.

Highlights

  • Chicago MSA location.
  • Investment-grade corporate guarantee.
  • New construction, drive-thru quick-service restaurant (QSR).
  • Long-term, passive lease.
  • Strong surrounding economic drivers.
  • Affluent suburban location.

Property Details for 904 State Rte

Property type
Other retail properties, Restaurants
Square Feet
2,250 SF
Year Built
2023
Buildings
1
Lot Size (sq. ft)
38,768 SF

Location Insight

City
McHenry
County
Mchenry
State
Illinois
Latitude
42.3163734
Longitude
-88.2755044
904 State Rte, McHenry, Illinois

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904 State Rte
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