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La Luz Bakery Acquires Retail Strip Center In Round Lake For $1.5M
SOLD
$1,500,000
Illinois
See Similar DealsRetail18,600 SF
Sold 08/08/2023
SOLD
La Luz Bakery Acquires Retail Strip Center In Round Lake For $1.5M
649 Railroad Avenue Round Lake, Illinois 60073, Usa
See Similar DealsRetail18,600 SF
Sold 08/08/2023
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$80
Total Square Footage:18,600 SF
Transaction Type:Sale
A retail strip center in Round Lake, IL has been sold for $1.5 million. The property, located at 649-655 Railroad Avenue, spans 18,600 square feet and has a price per square foot of $81. It is fully occupied and offers diverse tenant options. The retail center's prime location near the Round Lake METRA Station adds to its appeal in the market.
Summary of transation details
- Property Type: Retail
- Transaction Amount: $1,500,000
- Square Footage: 18,600
- Address: 649-655 Railroad Avenue, Round Lake, IL
La Luz Bakery acquired the retail strip center from Mon Ami Realty, LLC. Rick Scardino from Lee & Associates represented the buyer, while Tyler Dechter from Baum Realty represented the seller in the transaction.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$79,999.99
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$5,329.19
Cash-on-Cash Return-1.27%
Monthly Debt Service$7,110.77
Annual Debt Service$85,329.18
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