For Sale
$6,680,583

21000 Olympian Way Olympia Fields, IL 60461

High-traffic, 11,888 SF animal hospital, strong tenant.

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional investment opportunity presents a brand-new, 11,888-square-foot, single-story animal hospital and surgery center built in 2024. Located in Olympia Fields, Illinois, at 21000 Olympian Way, this property boasts a prime location near major roadways including Interstate 30, Olympian Way, and Interstate 57, ensuring high visibility and accessibility. Its proximity to the 211th Street Metra Station further enhances its strategic positioning. The 1.96-acre lot provides ample space, complemented by 64 parking spaces. The property benefits from strong demographics, situated within a five-mile radius of over 160,000 residents with an average household income exceeding $96,000 annually. A 15-year net lease with VCA Animal Hospitals, Inc., a subsidiary of Mars, Incorporated, commenced December 28, 2022, and expires August 31, 2039, with three five-year renewal options. The annual rent is $400,835, with a 2% annual increase. This fee-simple ownership offers a 6.00% cap rate and a stable, passive income stream in a growing industry within a top metropolitan statistical area. The property is zoned B-3 and features a built-to-suit design tailored to the tenant's specific operational needs. This represents a secure, long-term investment with a highly creditworthy tenant and significant upside potential. The property is 100% occupied.

Highlights

  • 1. 11,888-square-foot, single-story animal hospital built-to-suit in 2024.
  • 2. High-traffic location near I-30, Olympian Way, and I-57, across from the 211th Street Metra Station, in a strong demographic area with average household income exceeding $96,000 and over 160,000 residents within 5 miles.
  • 3. 15-year net lease with VCA Animal Hospitals, Inc., commencing Summer 2024, expiring August 31, 2039, with three 5-year options; $400,835 annual rent, increasing 2% annually.
  • 4. Tenant is VCA Animal Hospitals, Inc., a subsidiary of Mars, Incorporated, operating over 1,000 animal hospitals nationwide.
  • 5. Highly passive net lease investment in a growing industry within the Chicago MSA.

Property Details for 21000 Olympian Way

Property type
Retail properties, Medical space
Square Feet
11,888 SF
Year Built
2024
Buildings
1
Stories
1
Lot Size (sq. ft)
85,378 SF

Location Insight

City
Olympia Fields
County
Cook
State
Illinois
Latitude
41.507201
Longitude
-87.701423
21000 Olympian Way, Olympia Fields, Illinois

FAQs

What type of property is this?
Retail property - High-traffic, 11,888 SF animal hospital, strong tenant.
Where is the retail property located?
The property is located at 21000 Olympian Way Olympia Fields, IL.
What is the asking price?
The asking price for this property is $6,680,583.
What are key features of this property?
This property features: 1. 11,888-square-foot, single-story animal hospital built-to-suit in 2024.; 2. High-traffic location near I-30, Olympian Way, and I-57, across from the 211th Street Metra Station, in a strong demographic area with average household income exceeding $96,000 and over 160,000 residents within 5 miles.; 3. 15-year net lease with VCA Animal Hospitals, Inc., commencing Summer 2024, expiring August 31, 2039, with three 5-year options; $400,835 annual rent, increasing 2% annually.
How can I contact the broker?
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21000 Olympian Way
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