1681 Galena ave | Dixon, IL 61021
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1681 Galena ave
Dixon, IL 61021
Chipotle (Dixon) · Retail Property For Sale
Investment Highlights
- LONG TERM NNN LEASE - This is a new 15-Year lease, with four 5-year options.
- BRAND NEW CONSTRUCTION Chipotle is a brand-new building, completed in 2023.
- PREMIER ACCESS AND VISIBILITY The subject property is situated on Dixon’s main north/south thoroughfare, South Galena Street (IL Route 26).
- ABSOLUTE NNN The lease is Absolute NNN, with Tenant 100% responsible for paying & maintaining the parking lot, insurance, real estate taxes,etc.
- DIXON GATEWAY DEVELOPMENT LOCATION Chipotle is situated within the new Dixon Gateway Development, a 27-acre commercial development.
Executive Summary
This is a brand-new 2023 construction corporate-guaranteed Chipotle property on a 15-year Absolute NNN lease with zero landlord responsibilities, making this a completely "hands off" investment for the owner. The lease also features attractive 10% increases every 5 years, guaranteeing strong, contractual yield growth. Additionally, this Chipotle is strategically located directly across from Walmart Supercenter and is a part of the new Dixon Gateway Development, featuring national tenancy that includes a new Marriott Hotel, YMCA, Aldi, Starbucks, Arby’s, T-Mobile, Jersey Mike’s, and Casey’s.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
2,350 SF
Building Class
B
Year Built
2024
Price
$2,562,000
Price Per SF
$1,090
Cap Rate
5.25%
NOI
$134,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
0.75 AC
Opportunity Zone
Yes
Zoning
B-2 - General Business
Frontage
223 FT on South Galena Avenue
Amenities
- Signage
- Drive Thru
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 18-08-09-101-015 | Improvements Assessment | $0 |
| Land Assessment | $377 | Total Assessment | $377 |
PROPERTY TAXES
Parcel Number
18-08-09-101-015
Land Assessment
$377
Improvements Assessment
$0
Total Assessment
$377
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