631 Lincoln HwyNew Lenox, IL 60451

Property Details for 631 Lincoln Hwy

Lot size

0.68 AC

Property type

Commercial real estate

APN

15-08-15-403-026

APU

150815403026

Description

This exceptional investment opportunity presents a fee-simple interest in a 5,546 square foot, single-tenant net-leased Pep Boys auto shop. Located in New Lenox, Illinois, this property boasts a prime location on US Highway 30, benefiting from high visibility and exposure to over 22,000 vehicles daily. Built in 2014, the property features the brand's latest store design and sits on a 0.68-acre lot with 28 parking spaces. The property is situated on an outparcel to a Walmart Supercenter, further enhanced by the presence of co-tenants including T.J. Maxx, Ross, and Petco. The current lease, with a corporate guarantee from Pep Boys Manny Moe & Jack of California Inc., has a remaining term of 4.9 years, with four 5-year renewal options, each including a 10% rent increase. The asking price is $2,140,000, representing a 6.50% cap rate and a price per square foot of $385.86. The lease commenced September 12, 2014, and expires September 30, 2029. Landlord responsibilities are limited to roof, wall, and foundation repairs/replacements. The property's strong demographics, with average household incomes within a 5-mile radius approaching $140,000 annually, contribute to its exceptional investment potential. The property's zoning is 0060 COMMERCIAL, and the APN is 15-08-15-403-026. This is a truly compelling investment opportunity with significant long-term growth potential.

• Alternative Use

  Use

  Valuation

  Residential

  $10,895,989

  Hospitality

  $9,980,667

  Educational

  $8,303,798

  Medical

  $8,589,378

  Retail

  $12,917,019

Location Insight

City

New Lenox

County

Will

State

Illinois

Latitude

41.5129

Longitude

-87.9514

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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