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Shopping Strip

McHenry Town Center West

2445 N Richmond Rd, McHenry, IL 60051

Listing Price: $2,876,500

Cap Rate
6.50%
Gross SF
8,302
Rentable SF
8,302
Price/Gross SF
$346.48
Lot Size
0.97 acres
Year Built
2003

Investment Overview

Marcus & Millichap proudly presents McHenry Town Center West, a service-oriented 8,302-square-foot, multi-tenant retail center, located on North Richmond Road in McHenry, Illinois. With average daily traffic counts in excess of 22,000 vehicles per day, around 64,300 people residing within a five-mile radius, and average household incomes of over $99,000, this retail asset is stabilized and 100 percent occupied. The average tenancy in the center is over 12 years. Recently, during the COVID pandemic, ownership executed lease extensions for all four tenants demonstrating their commitment to the location. There have been a number of capital improvements over the last five years, including recent sealing and striping of the parking lot, new LED parking lot lights, and six new back doors. The property provides great visibility from Richmond Road and is shadow-anchored by a Home Depot, Northwestern Medicine, and a Meijer grocery store in McHenry's main retail corridor. Other additional retailers in the immediate area include Kohl's, ALDI, Petco, Michaels, Burger King, Panda Express, Chipotle, Starbuck's, The Room Place, and Wendy's, among others. With the influx in suburban home buying, suburban retail centers with service-oriented tenants are likely to remain stable investments for investors seeking superior returns relative to other asset types for the foreseeable future. Given the Class A construction of the property, there is no known deferred maintenance on the building, and the income and expenses are likely to remain predictable, given strong NNN leases and a rent roll with a weighted average lease term of over 45 months. McHenry is a city in McHenry County, Illinois. It is a suburb in the Chicago metropolitan area and is located in east-central McHenry County, 55 miles northwest of the Chicago Loop and 35 miles from O’Hare International Airport. The city is centered on two major State highways – Illinois Route 31 (Richmond Road), which runs north-south from Wisconsin to South Elgin; and, Illinois Route 120, which runs east-west from Woodstock to Park City. The city consists of approximately 13 square miles of land area.

Investment Highlights

  • Shadow Anchored by Home Depot, Northwestern Medicine, and Meijer's Grocery Store in a Major Retail Corridor
  • Ownership Recently Executed Lease Extensions for all Four Tenants During the COVID Pandemic, Demonstrating their Commitment to the Location
  • All Tenants Operate Under NNN Leases
  • 61 Percent of the Gross Leasable Area is Corporately Guaranteed
  • Stabilized Income | 100 Percent Occupied by National Tenants
  • Average Tenancy is 12.75 Years
  • Favorable McHenry County Taxes
  • Major Capital Improvements in the Last 5 Years Including Reseal & Striping of the Parking Lot, New LED Parking Lot Lights, and Six New Back Doors

Exclusively Listed By

Financing By

Shopping Strip

McHenry Town Center West

Listing Price: $2,876,500

Cap Rate
6.50%
Gross SF
8,302
Rentable SF
8,302
Price/Gross SF
$346.48
Lot Size
0.97 acres
Year Built
2003

Investment Highlights

  • Shadow Anchored by Home Depot, Northwestern Medicine, and Meijer's Grocery Store in a Major Retail Corridor
  • Ownership Recently Executed Lease Extensions for all Four Tenants During the COVID Pandemic, Demonstrating their Commitment to the Location
  • All Tenants Operate Under NNN Leases
  • 61 Percent of the Gross Leasable Area is Corporately Guaranteed
  • Stabilized Income | 100 Percent Occupied by National Tenants
  • Average Tenancy is 12.75 Years
  • Favorable McHenry County Taxes
  • Major Capital Improvements in the Last 5 Years Including Reseal & Striping of the Parking Lot, New LED Parking Lot Lights, and Six New Back Doors

Investment Overview

Marcus & Millichap proudly presents McHenry Town Center West, a service-oriented 8,302-square-foot, multi-tenant retail center, located on North Richmond Road in McHenry, Illinois. With average daily traffic counts in excess of 22,000 vehicles per day, around 64,300 people residing within a five-mile radius, and average household incomes of over $99,000, this retail asset is stabilized and 100 percent occupied. The average tenancy in the center is over 12 years. Recently, during the COVID pandemic, ownership executed lease extensions for all four tenants demonstrating their commitment to the location. There have been a number of capital improvements over the last five years, including recent sealing and striping of the parking lot, new LED parking lot lights, and six new back doors. The property provides great visibility from Richmond Road and is shadow-anchored by a Home Depot, Northwestern Medicine, and a Meijer grocery store in McHenry's main retail corridor. Other additional retailers in the immediate area include Kohl's, ALDI, Petco, Michaels, Burger King, Panda Express, Chipotle, Starbuck's, The Room Place, and Wendy's, among others. With the influx in suburban home buying, suburban retail centers with service-oriented tenants are likely to remain stable investments for investors seeking superior returns relative to other asset types for the foreseeable future. Given the Class A construction of the property, there is no known deferred maintenance on the building, and the income and expenses are likely to remain predictable, given strong NNN leases and a rent roll with a weighted average lease term of over 45 months. McHenry is a city in McHenry County, Illinois. It is a suburb in the Chicago metropolitan area and is located in east-central McHenry County, 55 miles northwest of the Chicago Loop and 35 miles from O’Hare International Airport. The city is centered on two major State highways – Illinois Route 31 (Richmond Road), which runs north-south from Wisconsin to South Elgin; and, Illinois Route 120, which runs east-west from Woodstock to Park City. The city consists of approximately 13 square miles of land area.

Exclusively Listed By

Financing By

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