Near North Crossing - Springfield, IL | Dollar Tree & Walgreens anchored
$2,434,769
1150 North 5th Street, Springfield, IL 62702
7.75
Cap Rate
188,695
NOI
Details:
Highlights:
- Fee-Simple ownership
- 19,671 SF shopping center situated on 1.88 acres at the signalized intersection of N Grand Ave. & N 5th St.
- Dollar Tree and Walgreens anchored service-oriented and internet-resistant tenant line-up
- Located adjacent to the Central Illinois medical district anchored by the largest and most prominent hospitals, Memorial Medical Center, and St. John’s Hospital
- Value-add opportunity by leasing current vacancy, increasing below market rents, and converting gross leases to triple net
- Significant recent capital improvements (new roof, LED lighting, and building facade upgrade)
- The tenant lineup has shown strong dedication, as evidenced by their tenured tenancy
Description:
Near North Crossing Shopping Center
• Fee-Simple ownership
• 19,671 SF shopping center situated on 1.88 acres at the signalized intersection of N Grand Ave. & N 5th St.
• Dollar Tree and Walgreens anchored service-oriented and internet-resistant tenant line-up
• Located adjacent to the Central Illinois medical district anchored by the largest and most prominent hospitals, Memorial Medical Center, and St. John’s Hospital
• Value-add opportunity by leasing current vacancy, increasing below market rents, and converting gross leases to triple net
• Significant recent capital improvements (new roof, LED lighting, and building facade upgrade)
• The tenant lineup has shown strong dedication, as evidenced by their tenured tenancy
• Offering Price $2,434,769.59
Documents:
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Near_North_Shopping_Center___Rent_Roll___FY2023.xlsx
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Location
Gallery
