Pontiac Commons
5,236 SF | 100% Leased | Retail Building | Pontiac, IL 61764 | $1,545,000 ($295/SF) | 7.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,545,000
- Property Type
-
Retail
- Square Feet
- 5,236 SF
- Price / Square Foot
- $295
Listing Contacts
Chad Firsel
Verified Profile
Daniel Waszak
Verified Profile
Zack Hilgendorf
Verified Profile
Nick Hilgendorf
Verified Profile
- Property Info
Property Overview
Quantum Real Estate Advisors, Inc. (“QREA”) has been retained to exclusively offer for sale this 5,236 square-foot multi-tenant shopping center located at 1041 W Reynolds St., Pontiac, IL. The property is currently 100% leased to national and local co-tenants: Jimmy John’s, T-Mobile, Great Clips & Smoke Zone. All tenants are currently signed to landlord-favorable net leases. The property features great visibility from Reynolds St., along with pylon signage and ample parking. The city of Pontiac is the county seat of Livingston County, Illinois which provides the county with an administrative center for government activities.
The property is strategically located off Reynolds St., which sees over 16,457 VPD. The asset is also located 1.3 miles east of the Interstate 55 between Chicago & Bloomington-Normal that sees an additional 22,692 VPD. The property has a cross-access agreement with the neighboring property of Advance Auto Parts allowing customers access to the entire shopping center. Additionally, the site is located less than half a mile from Walmart driving more traffic to this retail corridor. The property benefits from a middle-class area, with an average household income of more than $81,300 and a population of 11,925 within a 3-mile radius of the property. The property is surrounded by national retailers: Walmart Supercenter, Walgreens, KFC, Arby’s, ALDI, Subway, McDonald’s, and more.
The property is strategically located off Reynolds St., which sees over 16,457 VPD. The asset is also located 1.3 miles east of the Interstate 55 between Chicago & Bloomington-Normal that sees an additional 22,692 VPD. The property has a cross-access agreement with the neighboring property of Advance Auto Parts allowing customers access to the entire shopping center. Additionally, the site is located less than half a mile from Walmart driving more traffic to this retail corridor. The property benefits from a middle-class area, with an average household income of more than $81,300 and a population of 11,925 within a 3-mile radius of the property. The property is surrounded by national retailers: Walmart Supercenter, Walgreens, KFC, Arby’s, ALDI, Subway, McDonald’s, and more.
Property Details
- Year Built
- 2023
- Stories
- 1
Highlights
- Stabilized Investment Opportunity; 100% leased shopping center anchored by Jimmy Johns Drive-Thru. All tenants are signed to landlord-favorable favora
- Complimentary Mix of Tenants; Mix of national and local tenants that all have multiple lease options. Weighted average lease term of 3.75 years
- Location, Location, Location! Easily accessible site with high visibility. Located approximately 1 mile east of I-55
- High Traffic Corridor; Strong traffic counts along Reynolds St. (16,457 VPD) and Old Route-66 (12,986 VPD)
- Desirable Demographics; Population of over 12,707 within 5-miles. Average household income of $83,400 within 5-miles
- Redevelopment Opportunity; Property features an additional +/- 5 acres of developable land directly north of the building off Elks Club Road
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