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19329559
19329560

410 S Western Ave, Abingdon, IL 61410

EW
FL CQ1057427
Acropolis Commercial Advisors LLC
Listed by Acropolis Commercial Advisors LLC
$1,530,800
74 days on market
Updated 74 days ago

Family Dollar | 2024 Construction

Details
Property Type Retail
Sub Type Convenience Store, Grocery Store (+1)
Square Footage 10,500
Cap Rate 9.5%
NOI $145,425
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Dollar Tree (+2)
Lease Type NNN
Lease Term 10.1
Lease Expiration 08/31/2034
Remaining Term 8.2
Rent Bumps Yes
Lease Options Four (4), Five-Year
Price per SqFt $146
Year Built 2024
Stories 1
Acreage 1.460
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 08/01/2024
Ownership Fee Simple

2024 Large Format Store | Proven Dollar Store Market

Marketing description

Brand New Construction | Large Format Store | Corner Location with Multiple Points of Ingress and Egress

  • The Subject Property is a recently constructed, large-format, Family Dollar location which is situated on an oversized 1.46-acre parcel.

  • The Property benefits from being situated at the merger of South Commercial Drive and Western Ave, with two separate points of ingress and egress, providing for additional customer convenience.

  • The Property is subject to a brand new, long-term, modified NNN lease with Family Dollar. The lease features rental increases at the start of each option period and is backed by a corporate guarantee from Family Dollar.

State Route Location | Within 1 Hour of Peoria, IL and Davenport, IA

  • South Western Avenue, otherwise known as State Route 41, is the main thoroughfare leading through Abingdon.

  • SR 41 leads directly north into Galesburg which provides connections to U.S. Highway 34 and Interstate 74.

  • SR 41 and its connections provide further reach to major cities and other communities in northwest Illinois. Peoria, IL is just 55 minutes away via SR 41 and I-74 while Davenport, IA is just 1 hour away via SR 41, U.S. Hwy 34, and I-74.

Proven Market | Main Commercial Corridor | Across from Abingdon’s Only Grocer and Near Highly Trafficked Casey’s General Store

  • The Property sits directly across from Abingdon’s only grocery store, Hi-Lo Food Stores, which receives over 207,800 visits annually, and boasts a Yo3Y increase in annual visits of over 18%.

  • In addition, the Property is approximately a quarter mile from Casey’s General Store, which has over 420,000 visits annually, ranking it in the 81st percentile in the state.

  • Recently, a Dollar General Market location opened along S Western Ave. This new location is a relocation from a high-performing, small format, Dollar General, further lending to area retail demand.

Close Proximity to Local Area Drivers | Schools | Office, Manufacturing

  • The Property is strategically situated within 1-mile of Abingdon-Avon High School and Hedding Grade School. Abingdon-Avon High School is the only high school in the Abingdon-Avon School District and provides education for 12 neighboring cities and townships, creating consistent traffic flow and a stronger potential customer base.

  • The Property is within a quarter mile from corporate offices for Dechow, Inc. and within a mile-and-a-half from Viterra US’ grain storage and manufacturing facility.

Within 15 Minutes from County’s Three Largest Employers

  • Galesburg is only 15 minutes away and is home to the three largest employers in Knox County:

    • BNSF Railways is the largest employer in Knox County with 1,000+ employees and is one of the top freight transporters in North America.

    • OSF Healthcare’s St. Mary’s Medical Center is Knox County’s second largest employer with over 1,000 employees.

    • Blick Art Materials is the county’s third largest employer with over 700 employees and is the largest and oldest art supplies provider in the U.S.

Listing Contacts

EW
FL CQ1057427
Acropolis Commercial Advisors LLC
Listed by Acropolis Commercial Advisors LLC

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$145,425.00
$12,118.75/mo

Valuation Metrics

0
DSCR
9.5%
Cap Rate
9.5%
ROI

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Additional Information

Name
Brian Brockman
License
471020548
Brokerage
Bang Realty-Illinois, Inc
Title
Broker of Record
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