Retail Business for Sale in Crystal Lake, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Crystal Lake, IL 60014

Description

The subject property is a freestanding Burger King restaurant situated on West Virginia Street, a major thoroughfare that runs through the city of Crystal Lake, Illinois and surrounding communities. The property benefits from excellent visibility with reported daily traffic count of 29,900 cars. The subject property has been a Burger King restaurant since 1978 and in 2018 it was remodeled to reflect Burger King’s 2020 design demonstrating their commitment to this location. There are approximately 10 years remaining on the absolute NNN lease with Burger King Company, LLC that calls for 7.5% fixed rent increases every 5 years. Consisting of +/-3,931 sq. ft. of improvements, this Burger King is situated on +/-.95 acres of land which provides ample on-site parking. This property is adjacent to Crystal Lake Plaza which is a Petco/Savers anchored shopping center consisting of 125,000 sq. ft. of retail space. Crystal Lake Central High School (reported 1,498 student enrollment) is located just 1.1 miles away. Many national retailers have a presence on West Virginia Street with Taco Bell, Popeye’s situated approximately 400 yards to the west and IHOP, Pizza Hut, KFC, Arby’s are located within 500 yards to the east. Crystal Lake is located approximately 45 miles northwest of Chicago and has a reported city population of around 40,000 situated in McHenry County. Crystal Lake combines small-town charm with modern amenities and excellent connectivity via two Metro rail stations on the Union Pacific Northwest line, as well as access to Route 31 and Route 176. One of Crystal Lake’s greatest attractions is its parks systems. There are over 1,600 acres of parks and open space, as well as 239-acre Crystal Lake for fishing, boating, swimming and skating in the winter. The city’s economy is robust and diversified. Nearly 22,000 area residents are employed across key industries such as manufacturing, retail trade, and healthcare and social assistance. Their downtown district is

Market Context

This retail in Crystal Lake, IL is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 52 days. Compare it against other retail listings for sale in Crystal Lake, IL — <a href="/search/sale/retail/illinois/crystal-lake">view the full market</a>.

Contact

Explore this market

Similar Retail Business for Sale in Crystal Lake, IL