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800 Cog Cir

52,599 SF Retail Building Crystal Lake, IL 60014 $7,425,000 ($141/SF) 8.15% Cap Rate

Investment Highlights

  • Extensive Term Remaining (12+)
  • Recent Capital Improvements (Roof & Parking Lot)
  • 24/7 Location

Executive Summary

Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Edge Fitness in Crystal Lake, Illinois. This newly renovated, freestanding 52,599 SF single-tenant building is leased to Edge on a new 15-year lease that commenced in April 2022. The property is a high-performing location for Edge Fitness that was converted to a 24-hour location due to its market-leading membership counts and membership demand at the site. The property also benefits from a thorough renovation and modern tenant prototype, including a brand-new roof (with a transferrable warranty), and a resurfaced parking lot.
Situated at 800 Cog Circle, the property is positioned at the heart of a dense regional retail trade area anchored by Target, Home Depot, Sam’s Club, Menards, Walmart, Jewel Osco, Chick-fil-A, Chase Bank, Portillo’s, and Raising Cane’s, among many others. The property fronts Northwest Highway (31,000 VPD) at the intersection of Route 31 (33,500 VPD), and benefits from a strong, affluent demographic base, drawing from roughly 125,000 people in the trade area with average household incomes of $135,000. Edge Fitness was founded in 1988 and has grown to 42 locations in the market it services across nine states, with over 150,000 members.

Financial Summary (Actual - 2024)

Annual Annual Per SF
Gross Rental Income - -
Other Income - -
Vacancy Loss - -
Effective Gross Income - -
Net Operating Income $604,889 $11.50

Financial Summary (Actual - 2024)

Gross Rental Income
Annual -
Annual Per SF -
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
Effective Gross Income
Annual -
Annual Per SF -
Net Operating Income
Annual $604,889
Annual Per SF $11.50

Property Facts

Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Health Club
Building Size
52,599 SF
Building Class
B
Year Built/Renovated
1992/2021
Price
$7,425,000
Price Per SF
$141
Cap Rate
8.15%
NOI
$604,889
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.23
Land Acres
5.19 AC
Zoning
B-2, PUD
Parking
261 Spaces (4.64 Spaces per 1,000 SF Leased)
Frontage
372 FT on Cog Cir.

Amenities

  • Dedicated Turn Lane
  • Signage
  • Signalized Intersection

Nearby Major Retailers

Noodles & Company
Portillo's
Outback Steakhouse
Texas Roadhouse
BMO
Chili's
Ymca
Fresh Thyme Farmers Market
Planet Fitness
Starbucks

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
19-03-376-033
Land Assessment
$590,963 (2023)
Improvements Assessment
$504,817 (2023)
Total Assessment
$1,095,780 (2023)
  • Listing ID: 32748512

  • Date on Market: 8/9/2024

  • Last Updated:

  • Address: 800 Cog Cir, Crystal Lake, IL 60014

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