Binny's | Corp NN w/ 10+ Yrs | 5380 Northwest Hwy
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Binny's | Corp NN w/ 10+ Yrs 5380 Northwest Hwy
24,593 SF Retail Building Crystal Lake, IL 60014 $6,030,000 ($245/SF) 6% Cap Rate
Investment Highlights
- Over 10 Years Remaining | Scheduled Rental Increases | Corporate Signature | Well-Known & Established Brand
- Outparcel to 369K+ SF Power Center | Dense Retail Trade Area | Strong Surrounding National/Credit Tenant Presence
- Direct Residential Consumer Base | Affluent Community | Demographics in 5-Mile Trade Area
- NN Leased | Fee Simple Ownership | Limited Landlord Responsibilities
- Prime Location on Northwest Highway (30,800 VPD) | Centralized Location | Chicago MSA | Excellent Visibility
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NN leased, freestanding, Binny’s Beverage Depot (Binny’s) investment property located in Crystal Lake, IL (Chicago MSA). The tenant, Gold Standard Enterprises, Inc. (dba Binny’s Beverage Depot), has over 10 years of firm term remaining with an additional 5 (5-year) option periods left to extend. The lease features 5% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is NN with limited landlord responsibilities, making this an ideal, low-management investment opportunity for a passive investor. Founded in 1948, Binny’s is the Midwest’s largest retailer for fine wines, spirits, beer, and cigars with over 45 locations.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
24,593 SF
Building Class
B
Year Built
2000
Price
$6,030,000
Price Per SF
$245
Cap Rate
6%
NOI
$361,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Land Acres
2.66 AC
Zoning
B-2 PUD - General Commercial (PUD)
Parking
122 Spaces (4.96 Spaces per 1,000 SF Leased)
Frontage
339 FT on Northwest Hwy
Amenities
- Dedicated Turn Lane
- Signalized Intersection
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 19-04-452-007 | Improvements Assessment | $360,419 |
| Land Assessment | $449,336 | Total Assessment | $809,755 |
PROPERTY TAXES
Parcel Number
19-04-452-007
Land Assessment
$449,336
Improvements Assessment
$360,419
Total Assessment
$809,755
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Dan Elliot -
Sean Lutz -
SRS National Net Lease Group
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Binny's | Corp NN w/ 10+ Yrs | 5380 Northwest Hwy
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