Dick’s Sporting Goods & Five Below

$7,600,000
Price
$596,575
Noi
7.85%
Cap Rate
43,000
Leasable Area
2016
Year Built

CONTACT US REGARDING THIS LISTING

Rob Bender

Managing Partner

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present Dick’s Sporting Goods, and Five Below located in Quincy, IL. This built-to-suit two tenant 43,000 square foot retail center, was completed in 2016. Each tenant operate on 10 year double net leases, with Five Below having commenced in 2016, and Dick’s having commenced in early 2017. Given the nature of the leases there are minimal landlord responsibilities, as the landlord is only responsible for the capital repair and replacement to the roof and structure, etc.

Dick’s Sporting Goods and Five Below is highly visible as it is strategically positioned on the main retail arterial thoroughfare Broadway St (ADTC 17,196), at the intersection of US 172 (ADTC 8,200). Both tenants benefit from being adjacent to Lowes, Kohls, Old Navy and TJ Maxx. Other nearby retailers include; Walmart, Menards, Home Depot, BWW, McAlister’s Deli, Etc..The population within 5 miles exceeds 46,000 with the average household income within one mile being greater than $86,000. Expected consumer retail spending within 10 miles in excess of $540 Million. List price reflects a 8.00% based on an NOI of $595,772.

INVESTMENT HIGHLIGHTS
• Newer Two Tenant Retail Center | Dick’s Sporting Goods & Five Below
• Adjacent to Lowes, Kohls, TJ Maxx, Old Navy, BWW, McAlister’s
• Long Term Double Net (NN) Leases, Minimal Responsibilities
• 5 Mile Population Exceeds 49,000 and $70K Average Income
• $540 Million in Consumer Spending within 10 Miles
• Average Daily Traffic Counts of over 25,400
• Nearby Retailers Include WalMart, Sam’s Club, Etc.

Instate Broker of Record: Wayne Sobczak | Realty World | License #471-000681