1742 N Richmond Rd | Mchenry, IL 60051
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1742 N Richmond Rd
Mchenry, IL 60051
Harbor Freight · Retail Property For Sale
Investment Highlights
- Long-Term Net Lease with Rent Increases
- High Residual Value with Replacement Rent
- Best-In-Class Tenant
Executive Summary
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the Harbor Freight located in McHenry, Illinois (the “Property”). The Property consists of a 15,563-square-foot freestanding retail building on a 1.29-acre parcel of land. Harbor Freight is operating under a brand-new net lease with 10 years of base lease term remaining, offering a passive income stream. Additionally, the lease calls for 10.00% rent escalations every 5 years and at each option, providing investors with a hedge against inflation and rent growth. Harbor Freight is currently paying a below market rent PSF of $10, creating an asset with high residual value and a low price PSF on the building.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
15,555 SF
Building Class
B
Year Built
1997
Price
$2,223,285
Price Per SF
$143
Cap Rate
7%
NOI
$155,630
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
1.29 AC
Zoning
C - Commercial
Amenities
- Pylon Sign
PROPERTY TAXES
| Parcel Number | 09-26-251-039 | Improvements Assessment | $94,475 |
| Land Assessment | $174,973 | Total Assessment | $269,448 |
PROPERTY TAXES
Parcel Number
09-26-251-039
Land Assessment
$174,973
Improvements Assessment
$94,475
Total Assessment
$269,448
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