Listed by Ally Commercial Real Estate
$4,200,000
Starbucks Drive-Thru w/ Strip Center
Details
APN 30-19-100-099-0000
Property Type Retail
Sub Type QSR/Fast Food, Shopping Center
Square Footage 9,014
Units 4
Cap Rate 7.19%
NOI $323,454
Occupancy 100%
Tenancy Multi
Brand/Tenant Starbucks, Verizon Wireless
Lease Type NNN
Rent Bumps Yes
Price per SqFt $499
Broker Co-Op Yes
Year Built 2003
Buildings 1
Stories 1
Lot Size (SqFt) 33,200
Parking Spaces 49 spaces
Parking per 1,000 SqFt 5.44
Investment Type Stabilized
Tenant Credit Corporate Guarantee
Retail | 7.19% CAP | 9,014 SqFt
Marketing description
Ally Commercial Real Estate in conjunction with CPP CRE is pleased to present the exclusive sale of Torrence Avenue Shops—a 100% occupied,
trophy retail strip. Anchored by Starbucks (Drive-Thru), Verizon, Vitamin Shoppe, and GameStop, this center represents the gold standard of national-brand retail investment.
Strategically located at a signalized hard corner, the property commands massive traffic flow due to it's proximity to the River Oaks Shopping center, which is regional economic driver in the southland of Chicago. The city is also proposing a $110 MM plan to update the center.
This stabilized investment delivers a secure NOI of $323,453 at a 7.19% CAP Rate. The site's strength is also proven by its tenancy: Vitamin Shoppe recently extended its lease through 2030, and the Starbucks drive-thru provides a constant, recession-proof draw for the trade area.
Furthermore, the Vitamin Shoppe lease reverts to NNN in its option periods, maximizing long-term investor returns and minimizing expense leakage. All other tenants other than Vitamin Shoppe are on NNN leases making this property a premier turnkey opportunity for an investor seeking passive income in a thriving, high-growth corridor.
Investment highlights
Located along an extremely busy Commercial Corridor!
Dense location with over 250,000 people in a 5 mile radius!
Drive Thru Starbucks with incredible co tenants Vitamin Shoppe, Game Stop and Verizon
Massive Developments underway in the immediate area including the River Oaks, Blues Water Run, and the new potential Stadium!
Listing Contacts
Listed by Ally Commercial Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$323,453.90
$26,954.49/mo
Valuation Metrics
0
DSCR
7.7%
Cap Rate
7.7%
ROI
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