About This Restaurant
Investment Highlights
PAD SPACE OPPORTUNITIES: This offering provides four opportunities to develop on pad sites within Ottawa Centrw LONG-TERM OPERATING HISTORY: The site benefits from a Weighted Average Lapsed Lease Term of 13.29 years DIRECTLY OFF INTERSTATE 80: Ottawa Center is a quarter mile from the Interstate 80 interchange (30,600 VPD). VALUE-ADD THROUGH LEASE-UP: Ottawa Centre is currently 83.7% occupied with 8,400 square feet of remaining vacant spaces HIGH TRAFFIC SHADOW ANCHOR: Ottawa Centre is shadow-anchored by Walmart Supercenter, drawing over 2.1 million annual visitors. GREATER OTTAWA CENTRE DEVELOPMENT: The Site is strategically located within the greater Ottawa Centre development
Executive Summary
CBRE?s National Retail Partners ? Midwest is pleased to offer Ottawa Centre, consisting of two in-line retail buildings and four adjacent pad sites. The Property is currently 83.7% leased to a diverse mix of established local, regional, and national tenants including GNC, Shoe Dept., Sally Beauty Supply, Great Clips, Maurices, Cato Fashions, and AT&T among others. The Center is strategically located within the greater Ottawa Centre development, a commercial hub for the Ottawa area and surrounding communities featuring a Walmart Supercenter, Goodwill, and OSF HealthCare Medical Office.The Property features several value-add components via the lease-up of four vacant spaces totaling 8,400 square feet, as well as four development opportunities that can generate additional value and revenue to the retail center.
Property Details
- Sale Type Investment
- Property Type Retail
- Property Subtype Retail Retail General Retail Restaurant General Retail Storefront General Retail Department Store Retail
- Building Size 51,446
- Building Class B
- Year Built/Renovated 2006/2012
- Price 6,104,000
- Price Per SF 119
- Cap Rate 8.50
- NOI 518,816
- Percent Leased 100
- Tenancy Multiple
- Building Height 1 Story
- Building FAR 0.08
- Land Acres 14.31 AC
Amenities
- Freeway Visibility
- Pylon Sign
- Signalized Intersection
Property Taxes
| Parcel Number | 14-35-212001 | Improvements Assessment | $137,447 |
| Land Assessment | $1,052,045 | Total Assessment | $1,189,492 |
| Date Created: | 2024-07-16 04:13:38 | Last Updated: | 2024-07-16 04:13:38 |
| Address: | 333-389 W Stevenson Rd , Ottawa, Illinois, 61350 | ||