Corporate Backed Lease by PetSmart
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
Cap Rate 8.50%
Rentable SF 20,087 SF
Price per SF $167.62
Year Built 2006
Lot Size .46 Acres
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.