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Grocery Store

Absolute NNN | Grocery Anchored

6545 N Alpine Rd, Loves Park, IL 61111

Listing Price: $4,770,000

Cap Rate
6.75%
Tenant Name
Valli Produce
Years Remaining On Lease
10.1
Gross SF
105,640
Guarantor
Corporate Guarantee
Rentable SF
105,640
Price/Gross SF
$45.15
Lease Type
Ground Lease
Rent Per Square Feet
$3.05

Investment Overview

Marcus & Millichap is pleased to present this absolute NNN, grocery anchored ground lease in Loves Park, Illinois. This new 10-year ground lease anchors a prominent Chicagoland Grocer. Valli Fresh Market has successfully operated for 32 years and has six full-service grocery store locations. Partnered with United Natural Foods, Incorporated, the store has access to same products as Whole Foods. Extremely healthy store metrics with low rent-to-sales ratio (contact agent for details). The absolute triple-net ground lease features zero landlord responsibilities with five percent rental increases every five years throughout base term and option periods. Salvation Army is a subtenant with a corporately guaranteed lease (The Salvation Army, Incorporated) which assists more than 23 million Americans annually. The salvation army has occupied this space for over 13 years. The property is a fundamentally sound real estate investment. With a large 12.61-acre site and an abundance of parking (approximately 660 parking spaces) with the ability to control site for only $8.68 per square foot for the land. This is a value-add opportunity through developing or selling outlot. Landlord offered additional security through tenant receiving rental income from sub-tenants. Strong reversionary value with ability to substantially increase base rent after lease expiration. Priced well below replacement cost at $45.15 per square foot for the building. The property is located within the Rockford metropolitan statistical area. The area is highly populated with 146,793 people living within five miles of subject property. The average household income within one mile is $88,080. The property is located outside of Cook County and provides a low tax rate. Ideally situated one block from a heavily traveled intersection with easy direct access from North Alpine Road, East Riverside Boulevard and Colby Lane with three pylon signs. The property signalized access from Alpine Road with 42,475 vehicles passing per day between Alpine Road and Riverside Boulevard. Additional easement access to Walgreens. Notable major retailers in the area include Walmart, Hobbytown, Walgreens, CVS Pharmacy, McDonald’s, Burger King, Starbucks and much more. Located less than two miles from Rock Valley College with 7,737 students (44 percent of students are full-time).

Investment Highlights

  • New 10-Year Ground Lease with Prominent Chicagoland Grocer
  • Subtenant with Corporately Guaranteed Lease (The Salvation Army, Incorporated)
  • Fundamentally Sound Real Estate Investment
  • Located Within the Rockford Metropolitan Statistical Area (MSA)
  • Ideally Situated One Block from Heavily Traveled Intersection with Easy Access

Exclusively Listed By

Grocery Store

Absolute NNN | Grocery Anchored

Listing Price: $4,770,000

Cap Rate
6.75%
Tenant Name
Valli Produce
Years Remaining On Lease
10.1
Gross SF
105,640
Guarantor
Corporate Guarantee
Rentable SF
105,640
Price/Gross SF
$45.15
Lease Type
Ground Lease
Rent Per Square Feet
$3.05

Investment Highlights

  • New 10-Year Ground Lease with Prominent Chicagoland Grocer
  • Subtenant with Corporately Guaranteed Lease (The Salvation Army, Incorporated)
  • Fundamentally Sound Real Estate Investment
  • Located Within the Rockford Metropolitan Statistical Area (MSA)
  • Ideally Situated One Block from Heavily Traveled Intersection with Easy Access

Investment Overview

Marcus & Millichap is pleased to present this absolute NNN, grocery anchored ground lease in Loves Park, Illinois. This new 10-year ground lease anchors a prominent Chicagoland Grocer. Valli Fresh Market has successfully operated for 32 years and has six full-service grocery store locations. Partnered with United Natural Foods, Incorporated, the store has access to same products as Whole Foods. Extremely healthy store metrics with low rent-to-sales ratio (contact agent for details). The absolute triple-net ground lease features zero landlord responsibilities with five percent rental increases every five years throughout base term and option periods. Salvation Army is a subtenant with a corporately guaranteed lease (The Salvation Army, Incorporated) which assists more than 23 million Americans annually. The salvation army has occupied this space for over 13 years. The property is a fundamentally sound real estate investment. With a large 12.61-acre site and an abundance of parking (approximately 660 parking spaces) with the ability to control site for only $8.68 per square foot for the land. This is a value-add opportunity through developing or selling outlot. Landlord offered additional security through tenant receiving rental income from sub-tenants. Strong reversionary value with ability to substantially increase base rent after lease expiration. Priced well below replacement cost at $45.15 per square foot for the building. The property is located within the Rockford metropolitan statistical area. The area is highly populated with 146,793 people living within five miles of subject property. The average household income within one mile is $88,080. The property is located outside of Cook County and provides a low tax rate. Ideally situated one block from a heavily traveled intersection with easy direct access from North Alpine Road, East Riverside Boulevard and Colby Lane with three pylon signs. The property signalized access from Alpine Road with 42,475 vehicles passing per day between Alpine Road and Riverside Boulevard. Additional easement access to Walgreens. Notable major retailers in the area include Walmart, Hobbytown, Walgreens, CVS Pharmacy, McDonald’s, Burger King, Starbucks and much more. Located less than two miles from Rock Valley College with 7,737 students (44 percent of students are full-time).

Exclusively Listed By

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