1801 West Ave, Freeport, IL 61032
46,234 SF | 56% Leased | Retail Building | Online Auction Sale | Freeport, IL 61032
For Sale
Active
- Property Type
-
Retail
- Square Feet
- 46,234 SF
Listing Contacts
Adam Shultz
Keisha Hartshorn
- Property Info
Property Overview
1801 South West Avenue presents the market with an excellent opportunity to acquire a high-occupancy neighborhood retail center with upside in Freeport, Illinois. The retail center, which totals 46,234 square feet of space, is currently 91.7% occupied by a diverse tenant roster focusing on the service industry. The center is anchored by the presence of Dollar Tree, which has a lease through the middle of 2026, providing a continuous boon to the other tenants with a steady stream of daily needs discount traffic. Accessing the center is a breeze, with a signalized intersection guiding the traffic flow, while an on-site pylon sign offers advertisement potential. The center presents value-add upside to a new investor thanks to the two available suites left on the property, providing lease-up potential to push net operational income even higher.
This neighborhood retail center is in a prime location within Freeport, Illinois's premier commercial corridor, offering access to solid market fundamentals, shadow-anchoring national retailers, and excellent demographics. West Avenue serves as the primary commercial backbone for the city of Freeport. The vast majority of Freeport national retailers call this area home, most of which are reachable by a short drive from this asset. These retailers include neighboring stores like Dunkin', Burger King, Anytime Fitness, Hibbett Sports, and Marshalls. Other nearby spots include Walmart Supercenter, Cub, Aldi, and Menards. Demographics in this area have led to this significant confluence of retailers. Within 5 miles of the property, there is a sizeable population of 27,700 people who earn roughly $60,000 per household each year. This sizeable net income gives consumers extra flexible spending, leading to over $294 million in 2023 alone across all sectors. These factors have pushed the market fundamentals in an upward trajectory, with the area boasting a very modest vacancy rate of just 3.9%.
Do not miss the opportunity to acquire this high-occupancy neighborhood retail center, which has excellent leasing momentum bolstered by location, demographics, and surrounding retail synergies.
Property tours are available by appointment only. Please contact the broker to schedule.
This neighborhood retail center is in a prime location within Freeport, Illinois's premier commercial corridor, offering access to solid market fundamentals, shadow-anchoring national retailers, and excellent demographics. West Avenue serves as the primary commercial backbone for the city of Freeport. The vast majority of Freeport national retailers call this area home, most of which are reachable by a short drive from this asset. These retailers include neighboring stores like Dunkin', Burger King, Anytime Fitness, Hibbett Sports, and Marshalls. Other nearby spots include Walmart Supercenter, Cub, Aldi, and Menards. Demographics in this area have led to this significant confluence of retailers. Within 5 miles of the property, there is a sizeable population of 27,700 people who earn roughly $60,000 per household each year. This sizeable net income gives consumers extra flexible spending, leading to over $294 million in 2023 alone across all sectors. These factors have pushed the market fundamentals in an upward trajectory, with the area boasting a very modest vacancy rate of just 3.9%.
Do not miss the opportunity to acquire this high-occupancy neighborhood retail center, which has excellent leasing momentum bolstered by location, demographics, and surrounding retail synergies.
Property tours are available by appointment only. Please contact the broker to schedule.
Property Details
- Class
- C
- Year Built
- 1977
- Stories
- 1
- Property Subtype
- Storefront
- Lot Size (sq. ft)
- 146,362 SF
Highlights
- Rare opportunity to acquire a prominent neighborhood retail center located at 1801 S West Avenue in Freeport, Illinois.
- Excellent location positioned at a lighted intersection with frontage traffic counts exceeding 11,000 vehicles per day.
- Prime asset with high 91.7% occupancy among a diverse tenant roster, presenting new ownership lease-up upside with two remaining units.
- Dollar Tree, with a lease through mid-2026, anchors the center and boosts daily needs traffic.
- The size of the parcel and the abundance of parking presents a potential out lot development opportunity at the center.
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