Hillcrest Vet - Rockford IL
227 N Alpine Rd, Rockford, IL, 61107, US
6,700 sf
Description
JLL presents a single-tenant Cracker Barrel property in Merrillville, IN with 15 years remaining on a 20-year absolute NNN lease with 1% annual rent increases. The property benefits from strategic I-65 positioning (115,000+ VPD), proximity to Chicago (30 miles), and location in a thriving market with $193M in construction value (2023). The area is experiencing a $1B+ data center boom with major tech companies investing. The investment features zero landlord obligations, an oversized 3+ acre parcel, an average household income of $95K within a 1-mile radius, and a 30% daytime population increase in the immediate area.
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Attributes
Building area net
8,327 sf
Year built
1989
Cap rate
5.5%
NOI
$195,000
WALT
15 years
Media
Investment highlights
- Absolute NNN lease with 1% rent growth annually
- 15-Years (Initial lease term of 20 years with 15 years remaining)
- Strategically located along I-65 (115,000+ VPD)
- $95K Average Household Income (1-mile radius)
- Oversized 3+ AC parcel size
- Significant residential and commercial development (planned and completed)
- Daytime population increase of 30% within a 1-mile radius
Contact brokers
Cracker Barrel - Merrillville, IN (0 Properties)
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Last updated
Aug 28, 2025
