Panera Bread | Aspen Dental Lockport, Illinois

$4,282,494
Cap Rate: 6.30%
Property type: Multi-Tenant / Shopping Center

Property Details

Cap Rate: 6.30%
Price: $4,282,494
NOI: $269,797
GLA: 7,749 SF
Price PSF: $552.65
Year Built: 2018
Lot Size: 1.18 Acres +/-

16473-16477 West 159th Street
Lockport, IL 60441

Investment Highlights

  • Brand New Construction
  • 100 Percent Occupied by National Tenants Including Panera Bread and Aspen Dental
  • New 10-Year Lease for Aspen Dental | New 15-Year Lease for Panera Bread
  • 10 Percent Rent Increases Every Five Years
  • Located on Heavily Traveled 159th Street | 19,950 Vehicles Passing per Day
  • Located in Booming Retail Thoroughfare
  • Shadow Anchored by Lockport Square

 

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the New Construction Panera Bread and Aspen Dental, located in Lockport, Illinois. There is a new 10-year lease for Aspen Dental and new 15-year lease for Panera Bread with 10 percent renal increases every five years. This property is 100 percent occupied by national tenants. Located on heavily traveled 159th Street with 19,950 vehicles pass per day. The property is a half mile of the Interstate 355 interchange with 76,450 vehicles passing per day. Located in a booming retail thoroughfare. Shadow anchored by Lockport Square (future 300,000-plus square foot retail and restaurant development). Adjacent to new Marcus Theater and Holiday Inn Express. Located in Will County with favorable taxes.

 

Broker of Record

Steven Weinstock
License:  471.011175

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