Ace Hardware - Savanna, IL | 108 Main St
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Ace Hardware - Savanna, IL 108 Main St
13,519 SF 100% Leased Retail Building Savanna, IL 61074 $750,000 ($55/SF) 6% Cap Rate
Investment Highlights
- Low Price Point, Free-Standing Savanna Home & Hardware ACE Store in Savanna, Illinois
- Absolute NNN – No Landlord Responsibilities
- Excellent Value: Property is Offered at Only $55.48 PSF, Well Below Replacement Costs
- The Property is Leased for 15 Years (Commenced June 2023) to Coborn’s ($1.4B Rev)
- Only Hardware Store within a 10-Mile Radius of Savanna
- Tenured, Successful Store with Extremely Low Lease Rate: Tenant Pays Only $3.00 PSF, Resulting in Low Historic Rent-to- Sales Ratio
Executive Summary
SHOP Companies has been exclusively retained to offer for sale the free-standing Savanna Home & Hardware ACE store in Savanna, Illinois. The property is subject to a new, 15-year absolute net lease to J.B. Sullivan, LLC. The store benefits from low rent ($3.00 psf), strong sales, and low rent-to-sales ratio. ACE Hardware is a downtown location, only a half-mile away from its operator, J.B. Sullivan’s corporate office and regional distribution center. The subject property is also the only hardware store within a 10-Mile radius of Savanna.
In June 2023, Coborn’s (MN) acquired the J.B. Sullivan chain of grocery and hardware stores. With the acquisition of J.B. Sullivan’s, Coborn’s now operates a total of 135 business units, including hardware stores, liquor stores, fuel centers, drycleaners, pharmacies, and franchised restaurants.
In Association with ParaSell, Inc. | Costa Mesa, California | A Licensed Illinois Broker #478027307
In June 2023, Coborn’s (MN) acquired the J.B. Sullivan chain of grocery and hardware stores. With the acquisition of J.B. Sullivan’s, Coborn’s now operates a total of 135 business units, including hardware stores, liquor stores, fuel centers, drycleaners, pharmacies, and franchised restaurants.
In Association with ParaSell, Inc. | Costa Mesa, California | A Licensed Illinois Broker #478027307
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
13,519 SF
Building Class
B
Year Built
1973
Price
$750,000
Price Per SF
$55
Cap Rate
6%
NOI
$45,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.37
Lot Size
0.84 AC
Opportunity Zone
Yes
PROPERTY TAXES
| Parcel Number | 08-07-09-201-047 | Improvements Assessment | $47,340 |
| Land Assessment | $37,083 | Total Assessment | $84,423 |
PROPERTY TAXES
Parcel Number
08-07-09-201-047
Land Assessment
$37,083
Improvements Assessment
$47,340
Total Assessment
$84,423
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Ace Hardware - Savanna, IL | 108 Main St
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