501 Northtown Rd, Normal, IL 61761
4,875 SF | 100% Leased | Retail Building | Normal, IL 61761 | $1,066,496 ($219/SF) | 8.25% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,066,496
- Property Type
-
Retail
- Square Feet
- 4,875 SF
- Price / Square Foot
- $219
Listing Contacts
Alexander Machado
Verified Profile
Daniel Gonzalez
Verified Profile
Rob Goldberg
Verified Profile
Ben Snyder
Verified Profile
- Property Info
Property Overview
Broker of Record
Matthew M. Fitzgerald
License No. 478027547 (IL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Matthew M. Fitzgerald
License No. 478027547 (IL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
Property Details
- Class
- C
- Year Built
- 1975
- Stories
- 1
- Lot Size (sq. ft)
- 33,106 SF
Highlights
- HIGH-YIELDING INVESTMENT – The property is being offered at a Year-1 in-place cap rate of 8.25%
- ATTRACTIVE RENTAL INCREASE – 3.00% Annual rental increases, providing investors with a hedge against inflation
- Although this store sells recreational and medical cannabis, this location is the only dispensary serving medical cannabis in all of McLean County
- The tenant exercised their first 10-year option upon the expiration of the base term, demonstrating their proven success at this location
- Beyond/Hello (Jushi Holdings Inc.) is a publicly traded multi-state cannabis operator with a significant number of dispensaries across seven states
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