Aldi & Eyemart Express at Parkway Pointe | 3425 Freedom Dr
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Aldi & Eyemart Express at Parkway Pointe 3425 Freedom Dr
24,500 SF Retail Building Springfield, IL 62704 $4,950,000 ($202/SF) 6.50% Cap Rate
Investment Highlights
- DESIRABLE LONG-TERM LEASES I 9.4 YEAR WALT
- MOST VISITED SHOPPING CENTER IN SPRINGFIELD I 6 MILLION ANNUAL VISITS
- IRREPLACEABLE LOCATION
- INLINE WITHIN WALMART AND TARGET ANCHORED CENTER
- STRONG DEMOGRAPHIC PROFILE
Executive Summary
ALDI and Eyemart Express enjoy an ideal positioning at the heart of the White Oaks Trade area, a dense retail corridor located along Veterans Parkway that is the main shopping destination for residents of Springfield and surrounding communities. The trade area is anchored by Simon Mall’s 930,000 square-foot White Oaks Mall, which features, Macy’s, Dick’s, Sporting Goods, H&M, Michaels, Esporta Fitness, Cooper’s Hawk Winery & Restaurant, and other specialty shops. Simon is in the process of redeveloping the mall and recently sold the former Sears box to the state of Illinois, who will use the space for offices for multiple state agencies following a complete interior and exterior renovation. The trade area is also home to traffic driving tenants that include TJ Maxx, Burlington, Marshalls, Binny’s Beverage Depot, Best Buy, Harvest Market, and others. Contemporary dining and fast-casual restaurant concepts in the area include Chick-fil-A, Portillo’s, Raising Cane’s, CoreLife Eatery, Mission BBQ, Chipotle, and others.
Property Facts
Sale Type
Investment
Property Type
Retail
Building Size
24,500 SF
Building Class
B
Year Built
1993
Price
$4,950,000
Price Per SF
$202
Cap Rate
6.50%
NOI
$321,750
Tenancy
Single
Building Height
1 Story
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 21-13.0-228-034 | Improvements Assessment | $460,736 |
Land Assessment | $388,087 | Total Assessment | $848,823 |
PROPERTY TAXES
Parcel Number
21-13.0-228-034
Land Assessment
$388,087
Improvements Assessment
$460,736
Total Assessment
$848,823
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Aldi & Eyemart Express at Parkway Pointe | 3425 Freedom Dr
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