Listed by Stream Capital Partners
$2,126,600
Kohl's
Details
Property Type Retail
Sub Type Storefront
Square Footage 90,500
Cap Rate 7.5%
NOI $159,500
Occupancy 100%
Tenancy Single
Brand/Tenant Kohl's
Lease Type Absolute NNN
Lease Expiration 01/31/2029
Remaining Term 2.7
Rent Bumps Yes
Lease Options 4, 5-year options
Price per SqFt $24
Year Built 1983
Acreage 2.263
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease Yes
Retail | 7.50% CAP | 90,500 SqFt
Investment highlights
- Zero Landlord Responsibilities: Absolute NNN Ground Lease structure, with a tenant that has been in operation at this location since 1982.
- Below Market Rent: Current rent is significantly below market rent paying a mere $1.76 PSF, offering substantial future upside.
- Below Replacement Cost: At $23.50/SF, the acquisition price is significantly below replacement cost, offering strong upside and yield potential.
- Hedge Against Inflation: The lease provides for 10% rent increases every five years. The next scheduled bump is in 3.5 years, which will adjust the cap rate to approximately 8.8%.
- New Area Developments: Forsyth, IL is experiencing sustained commercial expansion. New developments such as Panda Express’ recently delivered outparcel and Chick-fil-A’s planned redevelopment of the former Applebee’s pad along U.S. Hwy 51 demonstrate strong tenant demand within the corridor. The area continues to attract national retailers including Starbucks, Five Below, Dollar General, Taco Bell, and Menards, reinforcing its position as a growing retail hub.
- Prime Lodging Hub: There are approximately 13 hotels in the city, making this the premier retail and hospitality node for the entire Decatur metro area, making it one of the strongest commercial trade areas in Central Illinois.
- Strategic Location: Kohl’s is located within Hickory Point Mall, the primary retail hub for Decatur, IL and the communities between Champaign and Springfield. The mall fronts US Route 51, a major north–south corridor with over 17,600 VPD, providing direct access to Downtown Decatur and to Bloomington. It also sits just a half-mile from the Route 51/Interstate 72 interchange, offering strong regional connectivity.
- Strong Regional Employers: Major employers in the area include Archer Daniels Midland, Caterpillar, Decatur Memorial Hospital, Decatur Public Schools, HSHS St. Mary’s Hospital, and Ameren Illinois.
Listing Contacts
Listed by Stream Capital Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$159,500.00
$13,291.67/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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