420 Virginia StCrystal Lake, IL 60014

Property Details for 420 Virginia St

Year built

2008

Lot size

0.33 AC

Property size (Sq ft)

2,872 SF

Property type

Commercial real estate

APN

19-06-284-021

APU

1906284021

Description

This exceptional investment opportunity presents a fee-simple Taco Bell franchise located at 420 W Virginia St, Crystal Lake, IL 60014. Boasting 2,872 square feet on a 0.43-acre lot, this property features a strong absolute NNN lease with approximately 9.5 years remaining on the initial term, followed by four, five-year renewal options. The lease includes 10% rent increases every five years, providing a hedge against inflation. The tenant, a franchisee of Ampler Restaurant Group (a large, experienced operator of over 475 units), guarantees the lease. Built in 2008 and renovated in 2021, this top-performing location benefits from exceptional visibility on a major thoroughfare with over 30,000 vehicles per day. Its proximity to The Commons of Crystal Lake, a prominent shopping center, and a major redevelopment project, further enhances its value. The property enjoys strong demographics, situated within a 5-mile radius boasting an average household income exceeding $123,000 and a population of over 115,000 residents. The asking price is $2,920,035, representing a 5.70% cap rate and a NOI of $166,442. This is a passive investment opportunity in a prime location within the third-largest metropolitan area in the country. The lease commenced May 1, 2019, and expires January 7, 2034.

• Alternative Use

  Use

  Valuation

  Residential

  $593,567

  Hospitality

  $543,705

  Educational

  $452,356

  Medical

  $467,913

  Retail

  $703,665

Location Insight

City

Crystal Lake

County

Mchenry

State

Illinois

Latitude

42.2344

Longitude

-88.3361

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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