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Boulder Group Sells Single-Tenant Altius Cannabis Dispensary In Carol Stream For $2.13M

Property Image
SOLD
$2,130,000
Jimmy Goodman
Randy Blankstein

Illinois

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Retail4,500 SF
Sold 10/15/2024
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Property Image
SOLD

Boulder Group Sells Single-Tenant Altius Cannabis Dispensary In Carol Stream For $2.13M

506 South Schmale Road

See Similar Deals
Retail4,500 SF
Sold 10/15/2024
Jimmy Goodman
Randy Blankstein
the dealplayerscompscontact
Contact now

Summary

ILLINOIS
Asset Type:Retail
Price Per Square Foot:$473
Total Square Footage:4,500 SF
Transaction Type:Sale

The property asset involved in the transaction is a retail space located at 506 South Schmale Road in Carol Stream, Illinois. The sale price of the property was $2,130,000, and it encompasses 4,500 square feet. The property includes a new 12-year NNN lease with 3% annual rental escalations and is situated near major thoroughfares and various retailers, which benefits from high traffic and an affluent local demographic.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $2,130,000
  • Square Footage: 4,500
  • Price Per Square Foot: $473
  • Address: 506 South Schmale Road
  • Market: Carol Stream

The deal was represented by Jimmy Goodman and Randy Blankstein from The Boulder Group. This transaction involved the sale of a single-tenant Altius cannabis dispensary.

Players

Jimmy Goodman
The Boulder Group
Jimmy Goodman
65 deals$279.2M volume
BROKER
Randy Blankstein
The Boulder Group
Randy Blankstein
70 deals$347.1M volume(847) 562-0003
BROKER

Details

SOLD
IMAGE: Jimmy Goodman & Randy Blankstein DATE: 10/15/2024 ADDRESS: 506 South Schmale Road MARKET: Carol Stream ASSET TYPE: Retail BROKERS: Jimmy Goodman & Randy Blankstein (@RandyBlankstein) - The Boulder Group (@BoulderGroup) SALE PRICE: $2,130,000 SF: 4,500 ~ PPSF: $473 NOTE: The Boulder Group has sold a single-tenant Altius cannabis dispensary at 506 S. Schmale Road in Carol Stream, Illinois, for $2.13 million. The 4,500-square-foot property features a new 12-year NNN lease with 3% annual rental escalations and is strategically located near major thoroughfares and a variety of retailers, benefiting from high traffic and an affluent local demographic.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$113,599.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$7,567.45
Cash-on-Cash Return-1.27%
Monthly Debt Service$10,097.29
Annual Debt Service$121,167.44