BRUCE HAGE CORE3PM.COMVice President - Broker309.808.2125 1716 RT Dunn Drive Suite [email protected] Bloomington, IL 61701
OFFERING SUMMARYSale Price: $395,000
Cap Rate: 7.66%
NOI: $30,262
Lot Size: 0.93 Acres
Year Built: 2002
Building Size: 6,400 SF
Zoning: B-1 Highway Business
Price / SF: $61.72
PROPERTY HIGHLIGHTS• Investment Property
• Single Tenant Occupancy (100%)
• Newly signed 5-Year Lease Extension
• All Steel Building
• Large outside "Turfed" area
• Mezzanine viewing area
• Two Shower/Changing rooms
• Ample Parking
412 Olympia Drive, Bloomington, IL 61704Single Tenant Investment Property at 412 Olympia Drive
Executive Summary
BRUCE HAGE CORE3PM.COMVice President - Broker309.808.2125 1716 RT Dunn Drive Suite [email protected] Bloomington, IL 61701
Core 3 is pleased to present the exceptional opportunity to acquire a 100%fee-simple interest in the single-tenant, 100% leased property (“The Property”),located at 412 Olympia Drive in Bloomington, IL 671701. The Property consistsof a 6,458 square-foot building on .93 acres of land. The all-steel building wasinitially constructed in 2002 and the current tenant, Five Alarm CrossFit, justsigned a five year extension to their original lease. The current term of theirlease runs through 2023. The Property is located in Bloomington, Illinois, hometo State Farm Insurance, Illinois State University, Illinois Wesleyan University,Country financial and Rivian Automotive. The population of 177,546 within aten-mile radius is an active and growing demographic. Five Alarm CrossFit islocally owned and continues to grow within the community.
PROPERTY OVERVIEW
The all-steel building was built in 2002 and is located in the Towanda BarnesBusiness park on the east-side of Bloomington. The property is situated behindthe Ovation Theaters and directly beside Game Time Gym. This InvestmentProperty is 100% occupied by a single tenant, "Five Alarm CrossFit".
LOCATION OVERVIEW
412 Olympia Drive, Bloomington, IL 61704Single Tenant Investment Property at 412 Olympia Drive
Property & Location Overview
BRUCE HAGE CORE3PM.COMVice President - Broker309.808.2125 1716 RT Dunn Drive Suite [email protected] Bloomington, IL 61701
412 Olympia Drive, Bloomington, IL 61704Single Tenant Investment Property at 412 Olympia Drive
Additional Photos
BRUCE HAGE CORE3PM.COMVice President - Broker309.808.2125 1716 RT Dunn Drive Suite [email protected] Bloomington, IL 61701
412 Olympia Drive, Bloomington, IL 61704Single Tenant Investment Property at 412 Olympia Drive
Location Map
BRUCE HAGE CORE3PM.COMVice President - Broker309.808.2125 1716 RT Dunn Drive Suite [email protected] Bloomington, IL 61701
INVESTMENT OVERVIEW
Price $395,000Price per SF $61.72CAP Rate 7.7%Cash-on-Cash Return (yr 1) 7.66 %Total Return (yr 1) $30,262
OPERATING DATA
Gross Scheduled Income $43,200Total Scheduled Income $43,200Gross Income $43,200Operating Expenses $12,938Net Operating Income $30,262Pre-Tax Cash Flow $30,262
FINANCING DATA
Down Payment $395,000
412 Olympia Drive, Bloomington, IL 61704Single Tenant Investment Property at 412 Olympia Drive
Financial Summary
BRUCE HAGE CORE3PM.COMVice President - Broker309.808.2125 1716 RT Dunn Drive Suite [email protected] Bloomington, IL 61701
INCOME SUMMARY PER SF
Gross Income $43,200 $6.75
EXPENSE SUMMARY PER SF
Management Fees $2,160 $0.34Landscape Grounds $2,132 $0.33Real Estate Taxes $6,060 $0.95Insurance $513 $0.08Waste Removal $578 $0.09Snow Removal $1,495 $0.23
Gross Expenses $12,938 $2.02
Net Operating Income $30,262 $4.73
412 Olympia Drive, Bloomington, IL 61704Single Tenant Investment Property at 412 Olympia Drive
Income and Expense
BRUCE HAGE CORE3PM.COMVice President - Broker309.808.2125 1716 RT Dunn Drive Suite [email protected] Bloomington, IL 61701
POPULATION 1 MILE 5 MILES 10 MILES
Total population 206 66,970 177,546
Median age 37.6 35.7 32.0
Median age (Male) 39.1 34.5 31.4
Median age (Female) 37.2 37.3 32.9
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 73 27,195 67,532
# of persons per HH 2.8 2.5 2.6
Average HH income $88,902 $91,462 $71,242
Average house value $220,676 $222,943 $185,502
* Demographic data derived from 2010 US Census
412 Olympia Drive, Bloomington, IL 61704Single Tenant Investment Property at 412 Olympia Drive
Demographics
BRUCE HAGE CORE3PM.COMVice President - Broker309.808.2125 1716 RT Dunn Drive Suite [email protected] Bloomington, IL 61701
LIMITING DISCLOSURES
Core 3 hereby advises all prospective purchasers of this Single Tenant Net Leased property as follows:The Marketing Brochure was prepared by Core 3, an independent firm. It contains selected information pertaining to the Propertyand does not purport to be all-inclusive nor contain all of the information that a prospective purchaser may desire. Theinformation contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Core 3 hasnot and will not verify any of this information, additionally, Core 3 makes no guarantee, warranty or representation whatsoeverabout the accuracy or completeness of any information provided. As the Buyer of a single tenant property, it is the Buyer’sresponsibility to independently confirm the accuracy and completeness of all material information before completing anypurchase. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee offuture success. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investmentopportunity. An opportunity to inspect the Property will be made available to qualified prospective purchasers. The Owner andCore 3 expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase theProperty and/or to terminate discussions with any party at any time with or without notice. Owner shall have no legal commitmentor obligation to any purchaser reviewing this Offering Memorandum or making an offer to purchase the Property unless a writtenagreement for the purchase of the Property has been fully executed, delivered, and approved by the Owner. This MarketingBrochure is the property of the Core 3 and its contents are of a confidential nature. All information contained must be held andtreated in the strictest confidence. The contents may be only by parties approved by the Core 3 or the Owner. By accepting thisMarketing Brochure you agree to release Core 3 and the Owner's and hold them harmless from any kind of claim, cost, expense, orliability arising out of your investigation
412 Olympia Drive, Bloomington, IL 61704Single Tenant Investment Property at 412 Olympia Drive
Industrial Property For Sale
BRUCE HAGE CORE3PM.COMVice President - Broker309.808.2125 1716 RT Dunn Drive Suite [email protected] Bloomington, IL 61701
BRUCE HAGE
Vice President - Broker
[email protected]: 309.808.2125
CORE 31716 RT Dunn Drive Suite 4
Bloomington, IL 61701309.808.2125
412 Olympia Drive, Bloomington, IL 61704Single Tenant Investment Property at 412 Olympia Drive
Investment Property For Sale
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