Shell Gas Station & Dunkin' (Chicago MSA) · Retail Property For Sale
This ad is marked as Sold
Description: |
|
| SOLD, SOLD, SOLD Dunkin', Shell Gas Station and C-Store Video Sale Type: Investment Gross Leasable Area: 2,850 SF Sale Conditions: Auction Sale No. Stories: 1 Property Type: Retail Year Built/Renovated: 1971/2014 Property Subtype: Service Station Zoning Description: B-3 Building Class: B APN / Parcel ID: 0232401009 Lot Size: 0.71 AC Opportunity Zone: No AMENITIES: Car Charging Station INVESTMENT HIGHLIGHTS: Shell-branded service station, convenience store, and Dunkin' in the heart of one of Chicago's affluent and dense western suburbs. This opportunity offers investors both income from Dunkin' and value-add through percentage rent and renewal options. Strong sales with ±750,000 gallons sold annually, ±$200,000 in annual cigarette sales, ±$35,000 in liquor sales, and ±$225,000 in other merchandise. Potential to either lease-up as an investor or move in as an owner-operator offering an excellent business opportunity with additional upside. On-site gasoline station with eight fueling stations and three gasoline tanks, each with a total of ±28,000 total gallon capacity. Attractive future redevelopment site located at a highly trafficked intersection that sees over 62,500 vehicles passing through each day. EXECUTIVE SUMMARY: Baum Realty Group, LLC has been exclusively retained to market for sale 106 W North Avenue, Carol Stream, Illinois in DuPage County. The offering consists of a ±2,855 retail with a Shell service station, convenience store and Dunkin' in the heart of one Chicago’s affluent and dense western suburbs. This Property offers users/investors a turn-key gas station inclusive of the building, beer and wine license, and all FF&E. New ownership will be cash flow positive on the Dunkin' lease alone and have an opportunity to add value through increased operating efficiencies in the gas operation. This asset offers considerable upside in terms of both the business operations and future development value of the underlying real estate. The Property is positioned on a ±30,970 SF (±0.71 AC) parcel at the southeast signalized hard corner of E. North Avenue (nearly ±48,000 VPD) and Gary Avenue (±15,110 VPD). Built in 1971 and remodeled in 2014, the Property features a ±2,855 retail with C-Store area and Dunkin' Donuts with drive-thru on the east side of the building. The gasoline station has two (2) gasoline pump islands located north of the building and one pump island to the west, 8 fueling stations and three (3) gasoline USTs with a total of ±28,000 total gallon capacity. The Property is subject to a fuel supply agreement with Shell Oil has through YE 2029. This offering presents new ownership an opportunity to add value through increased operating efficiencies in the gas operation in addition to potentially adding gaming to the site in the future. Dunkin' is American Multinational coffee and doughnut company, as well as a quick service restaurant. With approximately 12,900 locations in 42 countries, Dunkin’ is on of the largest coffee shop and donut shop chains in the world. The Property has an in-place sublease effective June 11, 2013 thru June 30, 2023 with a fixed rent of $72,000 annually ($6,000/ month) in addition to 12.5% of gross sales as percentage rent. There are also 2 five (5) year renewal options at the same rent with 12.75% of gross sales. The Village of Carol Stream is a dynamic community showcasing economic prosperity, sought after traditional neighborhoods, and a full array of Village services. Carol Stream is home to over 1,000 businesses, 40,000 residents, two million square feet of commercial building space and 22 million square feet of industrial building space. The Village of Carol Stream is in close proximity to I-355 (Veteran’s Memorial Tollway) via North Avenue, an interstate route which connects local commuters and businesses to both I-290 (Eisenhower Expressway) and I-88 (Ronald Reagan Memorial Tollway). Additionally, one of the main east-west roadways in the Village is North Avenue and commuters can also travel via Gary Avenue to I-390 (Elgin-O’Hare Tollway) which provides convenient access to the northwest suburbs. The Property is located in a dynamic corridor with phenomenal co-tenancy and additional surrounding retailers and corporate demand drivers. The Property is located within a heavily trafficked commercial corridor featuring neighboring tenants such as CoreCentric Solutions, Frain Industries, Graphic Packaging International, Ozinga Concrete, Office Depot Distribution, amongst many others. The Property draws from and serves the middle-to-upper income communities of Carol Stream, Wheaton, and Winfield within Chicago’s highly desirable western suburbs. The Property offers numerous points of access and offers great visibility from the heavily trafficked thoroughfares. The benefits from relatively high barriers to entry and not only offers upside in the gasoline business/operations but also represents an attractive future redevelopment site on a high visibility hard corner with easy accessibility in a strong trade area. This attractive future redevelopment site features excellent egress/ingress and over 150 feet of frontage along the highly traveled E. North Avenue and 200 feet of frontage along Gary Avenue. The Property is also positioned near local demand drivers and just 10 minutes from both Wheaton College, Central DuPage Hospital and Cantigny Park. The Property also benefits from dense demographics and in 2021 has an estimated ±252,001 individuals residing within a five-mile radius of the property with an average household income of ±$119,345. The expanded 10-mile area which carriers commuters through the area has a 2021 population estimate of ±891,758. In 2021, the total specified consumer spending within a 5-mile radius of the Property accounts for ±$3,309,474,410 and there are ±9,847 businesses and ±112,999 employees. This Property offers investors/operators a huge value add opportunity to own/potentially operate a Shell branded gas station/convenience store with stable income from Dunkin' and various avenues for upside in the Chicago MSA. Property tours are available by appointment ONLY; To schedule a site tour, please contact listing brokers. |
|
Members profile: |
|
| Advertised by: | Tyler Dechter (click here to see full profile) |
| Email: | Email Advertiser |
Ad Details |
|
| Parking Spaces Outside | 20 |
| Property is | Sold |
| Garage Spaces (put 0 if this does not apply) | 0.00 |
| Price: | $350,000 USD |
| Price Info | SOLD, SOLD, SOLD |
About this Business |
|
| Business Category | Convenience Store |
| Franchise Operation | Yes |
| Type of Auto Business | Lottery, ATM, Convenience / Liquor Store, Restaurant, Gas Station / Mini-Mart |
Financial Information |
|
| Price Includes | Fictitious Name or DBA, Existing Signs, Equipment, Franchise, Goodwill, Real Estate |
For Sale at Auction |
|
| Auction Sale? | Yes |
| Type of Auction | Retail Auction (not Foreclosed Properties), Internet Auction, Minimum Bid Amount Required |
| Auction Date | Oct 25 - Oct 27, 2021 |
| Location | ONLINE AUCTION |
| Name of Auction | Ten-X |
| Auction Website | https://www.ten-x.com/listing/106-w-north-avenue-carol-stream-il-60... |
Unique Sale Issues |
|
| Type of Sale | Real Estate Agency Sale |
Website |
|
| Website | https://www.ten-x.com/listing/106-w-north-avenue-carol-stream-il-60... |
Location |
|
| Address | 106 E North Ave |
| City | Carol Stream |
| State | IL |
| Postal Code | 60188 |
| Country | USA |
Call Me! |
|
| Phone | Sign in to see details |
| Fax | (312) 275-3132 is the number for Tyler Dechter, Senior Associate / Broker, Baum Realty Group |
| Ad id: | 78414001 |
| Region: | |
| Ad views: | 1454 |
|
|
|