1240 Hickory Point Mall | Forsyth, IL 62535
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1240 Hickory Point Mall
Forsyth, IL 62535
Kohl's · Retail Property For Sale
Investment Highlights
- GROUND LEASE INVESTMENT The subject offering presents a rare opportunity to acquire a Kohl’s ground lease at a low basis with no landlord responsibili
- OUTSTANDING REGIONAL LOCATION Kohl’s is part of the Hickory Point Mall, the major retail draw for the Decatur area and the communities located between
- LONG-TERM TENANT Kohl’s has operated at Hickory Point Mall since 1982 and expanded its space by 28,000 square feet in 2003 and recently added a Sephor
- ANCHOR TO PROMINENT MALL The subject offering is located at the Hickory Point Mall, an 808,000 square foot enclosed regional mall that was constructed
- TRAFFIC-DRIVING CO-TENANTS Hickory Point Mall is one of the primary regional malls serving the city of Decatur and the surrounding communities that ma
- RECENT DEVELOPMENT ACTIVITY The Route 51 commercial corridor has become increasingly active in recent years as retailers and developers recognize the
Executive Summary
Mid-America Real Estate Corporation has been retained on behalf of the owner to sell the 2.26-acre parcel containing a Kohl’s store. This is a unique opportunity for an incoming investor to acquire more than 2 acres of on-mall land secured by a recently-renewed lease with a longstanding Kohl’s.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Department Store
Building Size
92,500 SF
Building Class
B
Year Built
1983
Price
$2,365,000
Price Per SF
$26
Cap Rate
6.75%
NOI
$159,600
Tenancy
Single
Building Height
1 Story
Building FAR
0.93
Lot Size
2.28 AC
Zoning
C-1
Amenities
- Signage
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