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Classic Auction - Retail

Galesburg Centre | $182,496 NOI

1890 N. Henderson Street, Galesburg, IL 61401

  • Asset Type
  • Real Estate
  • Property Type
  • Retail
  • Land Area
  • 4.71 Acres
  • Year Built
  • 1970
  • Occupancy
  • 100.00%
  • Occupancy as of
  • Oct 21, 2021
  • Retail Type
  • Neighborhood Center
  • Anchor
  • Yes
  • Anchor Tenant(s)
  • Dunham's Sports
  • Property Size
  • 40,592 Sq Ft

Prime Retail Corridor Two-Tenant Center

Investment Highlights

  • In-Place NOI of $182,496: Motivated Seller with realistic market expectations.
  • 100% Occupied NNN Center: The Property is fully occupied by Dunham's Sports (anchor tenant) and World Buffet, both on NNN terms with a collective $182,496 NOI. 
  • Excellent Traffic Exposure & Signalized Intersection: The Galesburg Centre is situated along the city's most trafficked thoroughfare (US-150) at a signalized intersection with dedicated turn lanes.
  • Multiple Access Points With Strong Visibility: The Property features ease of accessibility with multiple points of ingress and egress while capturing passing-by traffic with great signage and visibility. 
  • Dense National Retail Corridor: Notable retailers in close proximity to the Property include a Walmart Supercenter, Target, Dollar Tree, JOANN, Starbucks, Applebee's, Hy-Vee, and more.
  • Central Location Between Downtown Chicago & Springfield: The Property is located 120 miles from Springfield and 185 miles from Downtown Chicago (Top 3 MSA).  
 

Offering Details

Marcus & Millichap and RI Marketplace are pleased to present the Galesburg Centre (The "Property"), a fully occupied two-tenant anchored retail center in Galesburg, Illinois. The Property features full occupancy between two tenants, Dunham's Sport (anchor tenant) and World Buffet, with a triple net lease structure that yields a collective net operating income (NOI) of $182,496. The Galesburg Centre is situated along the city's most trafficked thoroughfare (US-150) with a placement at a signalized intersection while providing multiple points of ingress and egress thereby maximizing the Property's visibility and exposure. In close proximity to the Property are a series of national retailers that include a Walmart Supercenter, Target, Dollar Tree, JOANN, Starbucks, Applebee's, Hy-Vee, and more. Additionally, Galesburg is home to the award winning OSF St. Mary Medical Center and Carl Sandburg College (3 miles) while being centrally located between Springfield (120 miles) and Downtown Chicago (185 miles).

The city of Galesburg employs over 36,200 people with an average household income of $79,529 (1-mile radius), $57,652 (3-mile radius), and $58,158 (5-mile radius). The largest industries in Galesburg are Health Care & Social Assistance, Retail Trade, and Educational Services, while the highest paying industries are Transportation & Warehousing, Utilities, and Professional, Scientific, & Technical Services based on information provided by the United States Census Bureau.

Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.

Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace, (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property.

You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.

Platform Fee

The platform fee for this transaction is the greater of 5.00% or a minimum of $25,000.

Need Help?

Have questions about Marketplace? You can reach us at 800.915.7015 or info@rimarketplace.com.

Auctioneer

  • Scott Bowers

    c/o Fisher Auction Company Inc.

    License: 040000273