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PetSmart

Corporate Backed Lease by PetSmart

Triple-Net Lease

Limited Competition | Only National Pet Store Chain Within 40 Miles

Surrounded by Major Retailers | Excellent Location in Epicenter of Dense Retail Corridor

Strong Tenancy and Commitment | Original Tenant

1460 Koester Drive, Forsyth, IL 62535

OFF MARKET

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Market Summary

Price                                              $3,367,000

Cap Rate                                        8.50%

Rentable SF                                  20,087 SF

Price per SF                                  $167.62

Year Built                                      2006 

Lot Size                                          .46 Acres

Description

Marcus & Millichap is pleased to present a unique investment opportunity located at 1460 Koester Drive in Forsyth, Illinois. Built in 2006, the 20,087-square foot property sits in a strip, shadow anchored by Best Buy. The property is off of US Route 51 and Interstate 72. The NNN lease calls for limited landlord obligations and expires at the end of January 2023 with three remaining five-year options.

 

The subject property is strategically located in a dense retail corridor off of US Route 51 and Interstate 72, which sees a combined 41,000 vehicles per day. It is across from the Hickory Point Mall, the region's only super regional enclosed mall and has strong neighboring retail tenants such as Taco Bell, Wendy’s, Subway, Hampton Inn, Lowe's, Holiday Inn, Marriott Fairfield Inn, AT&T, GMC-Cadillac Dealership, Shell Gas Station, Circle K, and Applebee's among countless others.