1805 Jefferson StJoliet, IL 60435

For Sale
$2,500,000

NNN Leased Convenience Store Duo

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional investment opportunity presents a fee-simple interest in a thriving 2,979 square foot retail property located at 1805 W Jefferson St, Joliet, IL 60435. The property, situated on a 0.53-acre lot, houses a Circle K and Checkers restaurant operating under a brand new, absolute triple-net (NNN) lease. This provides significant long-term stability and minimal landlord responsibilities. The current lease boasts a 15-year initial term commencing April 5th, 2023, and expiring March 31st, 2038, with four 5-year renewal options, each including a 10% rent increase. The current annual net operating income (NOI) stands at $210,000, representing an attractive 8.40% capitalization rate based on the $2,500,000 asking price. The property benefits from its location in a major retail corridor, its proximity to the Marycrest Shopping Center, and its status as an outparcel to a grocery-anchored center. The $839.21 price per square foot reflects the strong value proposition of this 100% occupied, multi-tenant retail asset. This is a rare opportunity to acquire a high-performing, low-maintenance investment with significant long-term growth potential. The lease's built-in rent escalations ensure consistent income growth throughout the lease term. This property is ideal for investors seeking a secure, passive income stream with minimal management requirements.

Highlights

  • Absolute NNN lease with long-term, favorable extension options.
  • Grocery-anchored outparcel in a major retail corridor.
  • High-traffic retail location.
  • Low-maintenance ownership.
  • Excellent proximity to Marycrest Shopping Center.

Property Details for 1805 Jefferson St

Property type
Other retail properties, Individual retail properties
Square Feet
2,979 SF
Lot Size (sq. ft)
23,087 SF

Location Insight

City
Joliet
County
Will
State
Illinois
Latitude
41.5228856
Longitude
-88.1259644
1805 Jefferson St, Joliet, Illinois

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1805 Jefferson St
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