IL Retail Property with Double Digit Cap Rate Pricing Expectations Heads to Auction June 10th

17 Meadowview Center Kankakee, IL 60901

17 Meadowview Center, Kankakee, IL, 60901
17 Meadowview Center, Kankakee, IL, 60901
FOR SALE Auction Property
Property Type:
Neighborhood Center
Amount:
$2,750,000
Last Verified:
May 10, 2019

Meadowview Shopping Center 

This June, Meadowview Shopping Center, a multi-tenant retail center consisting of 139,112 square feet on 31.86 acres will be auctioned through the online commercial real estate platform, RealINSIGHT Marketplace.

The offering, presented by Frontline Real Estate Partners and RealINSIGHT Marketplace, represents a compelling opportunity to acquire a strong cash-flowing, multi-tenant retail center with the ability to add-value through lease-up and increasing the overall occupancy.

The property is comprised of three (3) inline multi-tenant buildings, an O'Reilly Auto Parts out lot, a McDonald's out lot (with drive-thru), and a two (2) unit out lot building.

 

Investment Highlights:

  • In place NOI of $782,777 at the current 77% occupancy rate
  • Strong cash-flowing multi-tenant retail center
  • Significant value-add through lease-up and increase of the overall occupancy
  • UHaul is opening a brand new storage facility adjacent to the property
  • Meadowview Movie Theater, adjacent to the center, is doubling their theaters to six (6) screens

 

To learn more, visit: http://bit.ly/2J8QmKj


Additional URLs

Map of 17 Meadowview Center, Kankakee, IL, 60901

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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