Kiddie Academy Mount Prospect,Illinois

$3,666,666
Not Available
Property type:Multi-Tenant / Shopping Center

The space

  • Listing Price: $3,666,666
  • NOI: $220,000
  • Cap Rate: 6.00%
  • Price/Gross Square Feet: $366.67
  • Triple Net (NNN): Triple Net (NNN)
  • Guarantor: Personal Guarantee
  • Gross Square Feet: 10,000
  • Lot Size: 1.16 Acres
  • Year Built: 2018

Description

920 Perimeter Drive
Mount Prospect, Illinois 60056

Investment Highlights

  • Shadow Anchored by Costco | Outparcel to Randhurst Village
  • Built-to-Suit for Kiddie Academy in 2018 | Lower Rent of $22 per Square Foot Where New Construction Daycare can be Over $30 per Square Foot
  • Over 11 Years Remaining on Net Lease
  • Located Just Off the Heavily-Trafficked Intersection of Rand Road, Route 83 and Kensington Road
  • Situated Amongst Many National Retailers and Restaurants
  • 1.5 Miles from the Mount Prospect Union Pacific Northwest Line Train Station
  • Attractive Demographics Surrounding the Property

Investment Overview

Marcus & Millichap is pleased to present Kiddie Academy located in Mount Prospect, Illinois. The subject property is shadow anchored by Costco and is an outparcel to Randhurst Village, a vibrant, open-air mixed-use center. Built-to-suit for Kiddie Academy in 2018. The original lease has over 11 years remaining on net lease with healthy rent growth with 8% increases every five years. First increase to occur on September 1, 2023. There are three, five-year options remaining. Lower rent of $22 per square foot where new construction daycare can be over $30 per square foot

Located just off the heavily-trafficked intersection of Rand Road, Route 83 and Kensington Road with 47,850 total vehicles passing per day. The property is situated amongst many national retailers and restaurants. 1.5 miles from the Mount Prospect Union Pacific Northwest Line train station providing direct access to Downtown Chicago. There are attractive demographics surrounding the property with a population of 315,900 people within a five-mile radius. Average household income within a three-mile radius exceeds $124,000. High daytime population with over 118,000 people in a three-mile radius. 

Broker of Record

Steven D. Weinstock | Lic. IL 471.011175

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