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1985 Freedom Pkwy

1985 Freedom Pkwy, Washington, IL 61571

Listing Price: $1,454,000

Cap Rate
6.50%
Tenant Name
Dollar Tree
Years Remaining On Lease
5.0
Guarantor
Corporate Guarantee
Rentable SF
8,750
Lease Type
Double Net
Rent Per Square Feet
$10.80

Investment Overview

Marcus & Millichap is pleased to present this single tenant Dollar Tree property located in Washington, IL, a Peoria suburb. The 9,000 square foot building was constructed on the pad of Menard’s in 2017, with approximately five years remaining on a ten year lease. The lease is corporately guaranteed by Dollar Tree, which has an investment grade “BBB” Credit Rating by Standard & Poor’s. The lease is double net, therefore the landlord is responsible for the roof, structural components of the building and repairs or replacement of the parking lot, while the tenant is responsible for seasonal CAM expenses including lawn and snow plowing. The tenant pays a monthly contribution towards taxes and insurance. There are $.50 per square foot rent increases in each of the three, five-year options. Dollar Tree, adjacent to Aldi, has excellent exposure along McClugage Road (Bus. 24 Hwy.) and is across from the Walmart entrance. Nearby are Cato, Urgent Care, Great Clips. One quarter mile east is Cherry Tree Shopping center anchored by Kroger and Big R with Dunkin Donuts on the pad.

Investment Highlights

  • 15 YEARS REMAINING ON THE ROOF WARRANTY
  • DOUBLE NET LEASE
  • $.50 PER SQUARE FOOT RENT INCREASES IN ALL THREE, FIVE-YEAR OPTIONS
  • OUT LOT OF MENARDS, ADJACENT TO ALDI
  • CLOSE TO MAJOR THOROUGHFARES: US ROUTE 24, STATE ROUTE 8 & INTERSTATE 74

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Discount

1985 Freedom Pkwy

Listing Price: $1,454,000

Cap Rate
6.50%
Tenant Name
Dollar Tree
Years Remaining On Lease
5.0
Guarantor
Corporate Guarantee
Rentable SF
8,750
Lease Type
Double Net
Rent Per Square Feet
$10.80

Investment Highlights

  • 15 YEARS REMAINING ON THE ROOF WARRANTY
  • DOUBLE NET LEASE
  • $.50 PER SQUARE FOOT RENT INCREASES IN ALL THREE, FIVE-YEAR OPTIONS
  • OUT LOT OF MENARDS, ADJACENT TO ALDI
  • CLOSE TO MAJOR THOROUGHFARES: US ROUTE 24, STATE ROUTE 8 & INTERSTATE 74

Investment Overview

Marcus & Millichap is pleased to present this single tenant Dollar Tree property located in Washington, IL, a Peoria suburb. The 9,000 square foot building was constructed on the pad of Menard’s in 2017, with approximately five years remaining on a ten year lease. The lease is corporately guaranteed by Dollar Tree, which has an investment grade “BBB” Credit Rating by Standard & Poor’s. The lease is double net, therefore the landlord is responsible for the roof, structural components of the building and repairs or replacement of the parking lot, while the tenant is responsible for seasonal CAM expenses including lawn and snow plowing. The tenant pays a monthly contribution towards taxes and insurance. There are $.50 per square foot rent increases in each of the three, five-year options. Dollar Tree, adjacent to Aldi, has excellent exposure along McClugage Road (Bus. 24 Hwy.) and is across from the Walmart entrance. Nearby are Cato, Urgent Care, Great Clips. One quarter mile east is Cherry Tree Shopping center anchored by Kroger and Big R with Dunkin Donuts on the pad.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

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