Grocery Store

IGA Anchored Center

807 E North Ave, Flora, IL 62839

Listing Price: $630,000

Cap Rate
9.70%
Tenant Name
IGA
Years Remaining On Lease
1.5
Gross SF
33,973
Rentable SF
33,973
Price/Gross SF
$18.54
Rent Per Square Feet
$1.80

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the IGA located at 807 E. North
Ave, Flora, IL 62839. The property consists of a 33,973 square foot building space situated on
roughly 3.34 acres of land. IGA currently occupies 26,673-SF of the building that was built in
1992 and there is 7,300-SF of vacant space that was built in 1970. The initial fifteen-year lease
terms started in 1993, and is set to expire July 31, 2022. The lease is absolute-net (NNN),
providing zero landlord obligations and is equipped with a 5% rent increase in the one option it
has remaining on the lease. IGA has an annual rent of $75,652 and has exceptional visibility to
over 6,600 vehicles per day. IGA is situated between the residential and retail areas, providing a
convenient shopping experience for residents.

The Independent Grocers Alliance (IGA) was founded in 1926 to bring family owned, local grocery
stores together under the IGA brand. Nearly a century later, the support of a nationally known
brand is still giving IGA grocers the ability to better compete, while at the same time, allowing
them to stay true to who they arehometown store owners in a position to meet the needs of their
unique communities. Today, communities across the U.S. are being served by
second, third and even fourth generation local IGA grocers.

Investment Highlights

  • Short Term Absolute Net Lease | Minimal Landlord Responsibilities
  • Base Rent is Currently $2.83/SF | Market Retail Rent is Approximately $7.00/SF
  • IGA Spent Approximately $200,000 in 2013 Interior Remodel
  • Priced well below construction cost at $18.54/SF
  • Additional 7,300-SF in Additional Vacancy Upside (Poor Condition)
  • Located on Main Thoroughfare, East North Ave. with 8,700 Vehicles Per Day

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    License(s): IL: 471.011175

    Illinois

Grocery Store

IGA Anchored Center

Listing Price: $630,000

Cap Rate
9.70%
Tenant Name
IGA
Years Remaining On Lease
1.5
Gross SF
33,973
Rentable SF
33,973
Price/Gross SF
$18.54
Rent Per Square Feet
$1.80

Investment Highlights

  • Short Term Absolute Net Lease | Minimal Landlord Responsibilities
  • Base Rent is Currently $2.83/SF | Market Retail Rent is Approximately $7.00/SF
  • IGA Spent Approximately $200,000 in 2013 Interior Remodel
  • Priced well below construction cost at $18.54/SF
  • Additional 7,300-SF in Additional Vacancy Upside (Poor Condition)
  • Located on Main Thoroughfare, East North Ave. with 8,700 Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the IGA located at 807 E. North
Ave, Flora, IL 62839. The property consists of a 33,973 square foot building space situated on
roughly 3.34 acres of land. IGA currently occupies 26,673-SF of the building that was built in
1992 and there is 7,300-SF of vacant space that was built in 1970. The initial fifteen-year lease
terms started in 1993, and is set to expire July 31, 2022. The lease is absolute-net (NNN),
providing zero landlord obligations and is equipped with a 5% rent increase in the one option it
has remaining on the lease. IGA has an annual rent of $75,652 and has exceptional visibility to
over 6,600 vehicles per day. IGA is situated between the residential and retail areas, providing a
convenient shopping experience for residents.

The Independent Grocers Alliance (IGA) was founded in 1926 to bring family owned, local grocery
stores together under the IGA brand. Nearly a century later, the support of a nationally known
brand is still giving IGA grocers the ability to better compete, while at the same time, allowing
them to stay true to who they arehometown store owners in a position to meet the needs of their
unique communities. Today, communities across the U.S. are being served by
second, third and even fourth generation local IGA grocers.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    License(s): IL: 471.011175

    Illinois

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