$ 900,000
-
$900,000
Price -
6,250
SqFt -
0.42
Acre
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About the Listing 86022 - 114116
South Holland Retail Strip building, located on well-traveled thoroughfare with good visibility. The building consists of four units with a total area of 6250 sqft. Construction is all masonry, built in 2008, with layout typical of in-line retail strip centers. Each unit is accessible from the street-facing side, with employee-only entrance/exit door on the rear side of the building. Unit 645, Seafood Junction, with a 1200 sqft area, on a Modified Gross terms has a projected yearly rent of $34,067/$28.18 per sqft. Unit 641, Flavor Addicts, with a 1200 sqft area, on a Modified Gross terms has a projected yearly rent of $36,000/$30.00 per sqft. Unit 637, is vacant. The projected rent as stabilized, should follow that of unit 641, with favorable terms. Units 629-633, combined units, with Serenity Home Health, is leased at $34,161/$21.03 sqft on Triple Net lease terms. Fully stabilized projected income is at $140,227, with expense reimbursements at $38,700, giving gross potential at $178,927. Effect gross income is at $173,560. Projected expenses at 101,351. NOI is calculated at $72,208 with vacancy and collection loss at 3.00%, which is consistent with market expectations. Current as is capitalization rate applied is 8%. Building is in good condition. Overall lot area is 18,393 sqft, with an asphalt paved parking area with 30 spaces.
Listing Highlights for 629-645 E 162nd St
Interior Details
- Appliances:
- Air Cond: Central Air
- Heating: Central Heat/Indiv Controls
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Garage Capacity: N/A
- Lot Dimensions: 124x148
- Zoning: COMMR
- Roof:
- Others:
- Sewer:
- Parking Features: 19-30 Spaces
Financial Details
- Tax Amount: $62,549
- Taxes w/Assessments: N/A
- Tax/Property ID: 29222010460000
- Tax Year: 2024
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Listing Location
Questions About..
629-645 E 162nd St South Holland, IL 60473
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