400 State RteMcHenry, IL 60050

For Sale
$4,540,000

High-yield retail property, 100% occupied.

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a 15,503 square foot, multi-tenant retail center in McHenry, IL, boasting a 7.25% cap rate and a strong NOI of $329,203. The property, situated on a 1.97-acre lot at 400 State Route 31, features five tenants including a brunch cafe, meat & potato eatery, and salon, all operating under favorable net leases with a remaining term of 6.4 years. Built in 1960 and renovated in 2010, this single-story building offers 108 parking spaces and benefits from excellent visibility and accessibility with multiple points of ingress/egress from State Route 31 and Bank Drive (27,355 VPD). The C-5 zoning allows for a variety of uses. Located less than a mile from Northwestern Medicine McHenry Hospital, this stabilized investment is surrounded by a thriving retail environment including Starbucks, McDonald's, and more, serving a substantial population with an average household income exceeding $123,400 within a 5-mile radius. This 100% occupied property offers a compelling return on investment with a proven track record of success. The asking price is $4,540,000.

Highlights

  • Stabilized investment opportunity: 100% leased, multi-tenant retail center with favorable net leases.
  • Less than one mile from Northwestern Medicine McHenry Hospital.
  • Excellent visibility and access via multiple ingress/egress points from State Route 31 (27,355 VPD) and Bank Drive.
  • Strong tenant mix with high historical occupancy.
  • Prime location near Starbucks, McDonald's, and other national retailers.
  • Densely populated area with over 66,226 residents and average household income exceeding $123,400 within a 5-mile radius.

Property Details for 400 State Rte

Property type
Lifestyle centers, Power centers
Square Feet
15,503 SF
Year Built/Renovated
1960/2010
Buildings
1
Stories
1
Lot Size (sq. ft)
85,813 SF
Units
5

Location Insight

City
McHenry
County
McHenry
State
Illinois
Latitude
42.32262023563
Longitude
-88.274192917849
400 State Rte, McHenry, Illinois

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400 State Rte
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