Listed by Friedman Real Estate
$17,385,000
Sangamon Center North - Schnucks Grocery Anchored
Details
Property Type Retail
Sub Type Grocery Store, Shopping Center
Square Footage 139,757
Cap Rate 7.5%
NOI $1,304,000
Occupancy 100%
Tenancy Multi
Brand/Tenant Schnucks
Year Built 1974
Year Renovated 2023
Acreage 12.820
Parking Spaces 795 spaces
Parking per 1,000 SqFt 5.69
Ground Lease No
Sangamon Center North - Schnucks Grocery Anchored
Investment highlights
- Grocery -Anchored Shopping Center: Anchored by Schnucks, a dominant regional grocer generating strong year-over-year sales, driving consistent daily traffic to the center
- Strong National Tenant Roster: Diverse mix of national and regional tenants including Planet Fitness, USPS, Pet Supplies Plus, Rent -A -Center, and Sally Beauty
- 100% Occupied: Fully leased center providing immediate and stable in -place cash flow with no near-term leasing risk
- Long-Term Tenancy: Many tenants have occupied the center for decades, with an average tenancy exceeding 16 years
- Below -Market Rents : Average rents below market provide mark-to-market upside as leases roll
- Proven Retail Location: Positioned along E Sangamon Avenue with strong traffic counts and direct access to I-55 and surrounding retail corridors
- Well -Maintained Asset: Significant capital improvements completed including roof replacements, parking lot work, and facade upgrades
Listing Contacts
Listed by Friedman Real Estate
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$1,304,000.00
$108,666.67/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
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