1066 Henderson StGalesburg, IL 61401

Property Details for 1066 Henderson St

Lot size

0.04 AC

Property type

Commercial real estate

APN

99-09-229-005

APU

9909229005

Description

This exceptional Galesburg, Illinois retail property presents a compelling investment opportunity. The 3,682 square foot building, constructed in 1973 and renovated in 2021, sits on a 47,193 square foot lot and boasts 75 parking spaces. Currently leased to Steak n Shake under a triple-net (NNN) lease with a corporate guarantee, the property offers a remaining lease term of approximately 3.5 years, with a potential for extension. The lease commenced in September 1973 and is set to expire August 31, 2024. The property features a drive-thru and is strategically located next to a McDonald's, benefiting from high visibility and traffic. The asking price is $950,000, representing a price per square foot of $258.01 and a current cap rate of 4.41%. The property is zoned B-2 and offers a strong pro-forma NOI of $41,900. This fee-simple ownership opportunity provides a stable income stream with minimal landlord responsibilities, making it an attractive addition to any portfolio. The property's long history with the tenant, since 1973, speaks to its enduring appeal and location strength. The substantial lot size, including over 36,000 square feet of asphalt, further enhances the property's value and potential.

Location Insight

City

Galesburg

County

Knox

State

Illinois

Latitude

40.9602

Longitude

-90.3838

CBSA code

23660

CBSA name

GALESBURG, IL MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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].