404 Palatine RdPalatine, IL 60074
- Retail properties
- 3,010 SF
Property Details for 404 Palatine Rd
- Year built
- 2021
- Lot size
- 0.79 AC
- Property size (Sq ft)
- 3,010 SF
- Property type
- Retail properties
- Property subtype
- Other retail properties
Description
This exceptional investment opportunity presents a 3,010 square foot 7-Eleven convenience store and gas station, built in 2021, situated on a 0.79-acre lot at 404 E Palatine Rd, Palatine, IL 60074. The property boasts a 15-year net lease (NNN) with 11.6 years remaining, featuring a corporate guarantee from 7-Eleven, the world's largest convenience store operator. The lease includes a favorable 7.5% rent increase every five years, ensuring consistent income growth. The property enjoys a prime location with easy access to major roads like Route 53, I-90, and I-290, less than a mile from downtown Palatine and under 10 miles from O'Hare International Airport. The high-traffic intersection sees a combined 42,200+ vehicles per day. With a current NOI of $215,000 and a 5.00% cap rate, this offering presents a strong return on investment. The asking price is $4,300,000, translating to $1,428.57 per square foot. The property is 100% occupied and benefits from a strong demographic area, serving a population of 67,223+ within Palatine and a MSA population exceeding 9.57 million. This is a rare opportunity to acquire a well-performing, established asset with a long-term lease and significant upside potential. The property is located approximately 30 miles northwest of downtown Chicago.
Location Insight
- City
- Palatine
- County
- Cook
- State
- Illinois
- Latitude
- 42.1106
- Longitude
- -88.0335
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker?
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].