The Boulder Group is pleased to exclusively market for sale a single tenant net leased ALCO Stores, Inc. (“ALCO”) property located in Nashville, Illinois. The property is ideally located along the region’s primary north-south thoroughfare approximately two miles south of Interstate 64. This is a successful ALCO location as evidenced by the consistent percentage rent that the retailer has paid over the past five years. ALCO is a publicly traded company on the NASDAQ (ALCS) and has been operating since 1901. ALCO offers customers a wide variety of general merchandising products to consumers in smaller communities with limited access to other regional or national full-line retail chains. Today, ALCO operates over 200 stores in 23 states. There are approximately six years remaining on this absolute net lease.
The ALCO property is located along Illinois Route 127, a primary north-south thoroughfare in the region that experiences traffic counts in excess of 10,000 vehicles per day. Illinois Route 127 is the roadway that connects residents of Nashville to Interstate 64. Interstate 64 has direct access to St. Louis which is approximately 50 miles northwest of the property.
The ALCO benefits from a long standing operating history at this location and a strong brand recognition in the community. This ALCO location has above average store sales and has paid consistent percentage rent for the past five years. Additionally, this store has a rent-to-sales ratio significantly below five percent.
There are approximately six years remaining on this absolute net lease that expires in January 2020. The tenant has paid consistent percentage rent over the past five years. The lease has four 5-year renewal options. ALCO Stores, Inc. is a publicly traded company on the NASDAQ (ALCS) with over 200 locations in 23 states.