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Single Tenant Investment | College Avenue

106 Young Drive, Normal
The Essentials
Marketing Flyer:
Status:
Sold
Lease Type:
Modified Gross
Zoning:
B1
NOI:
$58,285
Cap Rate:
9.8%
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Situated on College Avenue as a pad site to the Kroger Shopping Center, 106 Young Drive offers a rare opportunity to own a freestanding retail building in one of Normal’s most active commercial corridors. The property is currently fully occupied by RK Grocery, who recently signed a new two-year lease, providing immediate income stability for an investor while preserving flexibility for future use.

 

Originally constructed as four separate units, the building has since been opened up to create one contiguous space. With a half-basement for storage and operations, the layout offers adaptability for a variety of retail or service uses should a future owner choose to reposition the property.  Currently built out with restrooms, kitchenette, offices and storage.

 

The site benefits from exceptional visibility and traffic. The surrounding area is home to a strong mix of national and regional retailers, service businesses, and restaurants, including new developments such as The Picklr and Tricoci University that have opened across the street. 

 

The property is positioned just west of the intersection of Veterans Parkway and College Avenue, leading westward as the gateway to Illinois State University.

 

Highlights

  • Status: Fully leased to a long-term tenant. (Original lease Jan. 2010)
     

  • Lease: New 2-year agreement in place with RK Grocery. (Expires June 30, 2027)

 

  • Modified Gross Rent:  $78,000 annually

    • Taxes (2024):  $16,715 

    • Insurance:  $3,000

    • NOI:  $58,285 (9.8% cap)
       

  • Use Flexibility: Building could easily be reconfigured back into multi-tenant retail units in the future if desired.
     

  • Market Strength: Located in a thriving commercial area surrounded by national and regional retailers, service businesses, and university traffic.

Listing Agents

Meghan O'Neal-Rogozinski, CCIM
Owner and Commercial Real Estate Broker
[email protected] (309) 532-1808
Michael O'Neal
Commercial Real Estate Broker
[email protected] (309) 530-3591

Highlights

  • Status: Fully leased to a long-term tenant. (Original lease Jan. 2010)
     

  • Lease: New 2-year agreement in place with RK Grocery. (Expires June 30, 2027)

 

  • Modified Gross Rent:  $78,000 annually

    • Taxes (2024):  $16,715 

    • Insurance:  $3,000

    • NOI:  $58,285 (9.8% cap)
       

  • Use Flexibility: Building could easily be reconfigured back into multi-tenant retail units in the future if desired.
     

  • Market Strength: Located in a thriving commercial area surrounded by national and regional retailers, service businesses, and university traffic.