SVN | KING PROPERTIES | 890 MONTEREY ST., SUITE I, SAN LUIS OBISPO, CA 93401 OFFERING MEMORANDUM 1207-1211 TOWANDA AVE BLOOMINGTON, IL 61701 Kevin King BRE#01932713 Managing Director 805.541.5464 [email protected] CalDRE #01932713 Alex Ruggieri, CCIM, CRE, MBA Senior Advisor 217.841.4382 [email protected]
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SVN | KING PROPERTIES | 890 MONTEREY ST., SUITE I, SAN LUIS OBISPO, CA 93401 OFFERING MEMORANDUM
1207-1211TOWANDA AVEBLOOMINGTON, IL 61701
Kevin King BRE#01932713Managing [email protected] #01932713
Alex Ruggieri, CCIM, CRE, MBASenior [email protected]
1 PROPERTYINFORMATION
1207-1211 Towanda AveBloomington, IL 61701
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 3
OFFERING SUMMARY
Sale Price: $4,100,000
Cap Rate: 11.2%
NOI: $458,725
Lot Size: 2.5 Acres
Year Built: 1970
Building Size: 53,300 SF
Market:
Price / SF: $76.92
PROPERTY OVERVIEWNNN leased to USPS and Dollar General. USPS has occupied the building forover 20 years. Recently renewed through 2023. Dollar General has occupiedthe building for over 15 years. Long term lease through 2025.
LOCATION OVERVIEWLocated in an excellent submarket with a low vacancy rate of 5.6%. Minutesfrom Highway I-734 and Central Illinois Airport. Overall market vacancy rate of5.7%.
PROPERTY HIGHLIGHTS
• NNN leased through 2025.
• 100% Occupied
• Located in an excellent submarket
Property Summary
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
Site Plan
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
2 LOCATIONINFORMATION
1207-1211 Towanda AveBloomington, IL 61701
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 6
Regional Map
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
Location Maps
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 8The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
Area Aerials
3 FINANCIALANALYSIS
1207-1211 Towanda AveBloomington, IL 61701
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 10
INVESTMENT OVERVIEW
Price $4,100,000
Price per SF $76.92
CAP Rate 11.2%
Cash-on-Cash Return (yr 1) 21.0 %
Total Return (yr 1) $458,725
Debt Coverage Ratio 1.88
I.R.R. 32.46%
OPERATING DATA
Gross Scheduled Income $458,725
Other Income -
Total Scheduled Income $458,725
Vacancy Cost $0
Gross Income $458,725
Operating Expenses - RE Taxes $93,781 and Insurance $108,759- Fully Reimbursed $108,759
Net Operating Income $458,725
Pre-Tax Cash Flow $215,201
FINANCING DATA75% LTV, 5% INTEREST RATE, 20-YEAR AMORTIZATION, DUE IN 5-YEARS
Down Payment $1,025,000
Loan Amount $3,075,000
Debt Service $243,524
Debt Service Monthly $20,234
Principal Reduction (yr 1) $91,860
Financial Summary
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 11The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
TENANTNAME
UNITSIZE (SF)
LEASESTART
LEASEEND
LEASESTART
ANNUALRENT
% OFGLA
PRICEPER SF/YR
US Postal Service 37,700 12/1/18 11/30/23 Current $386,425 70.73 $10.25
Dollar General 15,088 3/1/13 2/29/25 Current $66,900 28.31 $4.43
Barber Shop 512 1/1/18 12/31/19 Current $5,400 0.96 $10.55
Totals/Averages 53,300 $458,725 $8.61
Rent Roll
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 12The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
THE LARGEST EMPLOYERS IN BLOOMINGTON INCLUDE:
State Farm Insurance Company,
Illinois State University
BroMenn Healthcare
Electrolux North America
Mitsubishi Motor Manufacturing
Walmart Inc
Verizon Communications
CITY HIGHLIGHTS
• The major sectors for employment in Bloomington arefinance and insurance, education, healthcare,accommodation and food services; manufacturing andconstruction. Computer specialists and business operationsspecialists are a significant part of the workforce. About 37%of the workforce is employed in management, professionaland related occupations.
BLOOMINGTON, IL
Bloomington is a city in central Illinois.
City Information
1207-1211 TOWANDA AVE , BLOOMINGTON, IL 61701 SVN | King Properties | Page 16The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
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