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16968680
16968795

910 E Dundee Road, Palatine, IL 60074

CB
GA GA 248342
CBRE - Atlanta
MK
IL 475154630
CBRE - Oak Brook
BP
GA 349355
CBRE - Atlanta
WP
GA 276560
CBRE - Atlanta
Listed by CBRE - Atlanta, CBRE - Oak Brook
$2,586,000
119 days on market
Updated 119 days ago
Opportunity zone

Mattress Firm

Details
Property Type Retail
Square Footage 4,000
Cap Rate 7%
NOI $181,000
Tenancy Single
Lease Type Net
Lease Term 10
Lease Expiration 08/31/2027
Remaining Term 10
Rent Bumps Yes
Lease Options Three 5-year options
Price per SqFt $647
Year Built 2017
Acreage 0.371
Parking Spaces 81 spaces
Parking Per SqFt 20.25
Lease Commencement 08/15/2017

Retail | 4,000 SF

Marketing description

The CBRE Net Lease Property Group is pleased to exclusively offer a 4,000-square-foot freestanding Mattress Firm on 0.371 acres in Palatine, Illinois, a popular upscale bedroom community located approximately 30 miles northwest of Chicago’s CBD. Mattress Firm’s 10-year net lease with three 5-year options and 10% rent increases every 5 years will commence upon completion of construction (Expected Completion in August 2017). The property is well-located with excellent visibility and multiple access points on the hard corner at the signalized intersection of Dundee Road and Rand Road (Combined Traffic Count: 59,000 VPD), the area’s two preeminent thoroughfares. Mattress Firm is also strategically located in a densely developed retail and commercial corridor within a shopping center that is also occupied by Panera Bread and Verizon, which are also currently under construction and being offered for sale as part of this larger offering.

The other three corners of the immediate intersection are occupied by more than 850,000 square feet of retail space that is anchored by Walmart, Target, TJ Maxx, HomeGoods, Petco, Aldi, Hobby Lobby and Ross among many others. In all, there is more than 6.8 MSF of retail, 3.4 MSF of industrial, 4.5 MSF of office space and 17,380 multifamily units within a 3-mile radius of the subject property. In addition, the tenant will benefit from upscale, infill demographics with a population and average annual household income of 102,356 people and $99,745, respectively within a 3-mile radius. This investment provides investors with the distinctive opportunity to acquire a high–quality net leased asset located in an upscale bedroom community within a densely developed retail corridor in one of the nation’s premier MSA’s.

Investment highlights

  • Premier Tenancy
  • Long-Term Net Lease With Attractive Increases
  • New Construction
  • Excellent Access/Visibility
  • Strategic Location
  • Dominant Retail Corridor
  • Dynamic Infill Demographics
  • Built-In Customer Base
  • Hub For New Development
  • Palatine Submarket
  • Chicago MSA Advantage
  • Potential Portfolio Acquisition

Listing Contacts

CB
GA GA 248342
CBRE - Atlanta
MK
IL 475154630
CBRE - Oak Brook
BP
GA 349355
CBRE - Atlanta
WP
GA 276560
CBRE - Atlanta
Listed by CBRE - Atlanta, CBRE - Oak Brook

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$181,000.00
$15,083.33/mo

Valuation Metrics

0
DSCR
7%
Cap Rate
7%
ROI

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