2325 Royal Blvd Elgin, IL 60123
19,819 SF School, 7% Cap Rate, NNN Lease
Overview
- Added:
- Dec 11, 2024
- Days on market:
- 132
Highlights
- $3,984,071 asking price for this 19,819 SF special purpose property in Elgin, IL.
- Fee simple ownership of a 2.28-acre lot with a 100% occupied, single-tenant NNN lease.
- 20-year lease (15.1 years remaining) commencing December 31, 2019, and expiring December 31, 2039, with two 5-year renewal options.
- 7.00% cap rate and $278,885 NOI, with a price per square foot of $201.02.
- The property is a 1996-built school leased to a premier early childhood education provider with 120+ locations and significant growth potential. Annual rent increases are the lesser of CPI or 2%.
Property Details for 2325 Royal Blvd
- Property type
- Specialty properties, Schools
- Square Feet
- 19,819 SF
- Year Built
- 1996
- Lot Size (sq. ft)
- 99,317 SF
Location Insight
- City
- Elgin
- County
- Kane
- State
- Illinois
- Latitude
- 42.0514078
- Longitude
- -88.3331978
Nearby Similar for Sale
FAQs
- What type of property is this?
- Specialty property - 19,819 SF School, 7% Cap Rate, NNN Lease
- Where is the specialty property located?
- The property is located at 2325 Royal Blvd Elgin, IL.
- What is the asking price?
- The asking price for this property is $3,984,071.
- What are key features of this property?
- This property features: $3,984,071 asking price for this 19,819 SF special purpose property in Elgin, IL.; Fee simple ownership of a 2.28-acre lot with a 100% occupied, single-tenant NNN lease.; 20-year lease (15.1 years remaining) commencing December 31, 2019, and expiring December 31, 2039, with two 5-year renewal options.
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