Industrial - 74k, 93% Leased for Sale
Industrial - 74k SF, 93% Leased for Sale
Marketing description
Versa Real Estate Services, as the exclusive agent, is pleased to present an exceptional opportunity to acquire the fee simple interest in 6 industrial/commercial buildings totaling 74,000 SF situated on approximately +/- 11.34 acres located in unincorporated Kane County just east of the Kirk and Roosevelt Road intersection. This opportunity offers an investor numerous options to add value to the 7 parcel assemblage through repositioning the existing buildings and increasing rents and term. Alternatively, the entire 11.34 acres could be repurposed for new industrial development.
Currently, the property is 93% leased to 7 tenants. The favorable B-3 zoning under the Kane County Zoning allows for flexibility with numerous uses.
The property consists of a seven-parcel assemblage offering approximately 1,040 feet of prime frontage along Roosevelt Road (Rt. 38) just east of Kirk Road and borders the Union Pacific Rail Line to the south. It will also benefit from future construction to extend Kautz Road to Fabyan Parkway.
In addition, this property is currently on well and septic and ComEd for electricity. The site has the ability to be annexed into the City of Geneva allowing for city sewer, water and City of Geneva electric.
Inquire with Versa Real Estate Services team for additional details.
Investment highlights
6 Buildings, 74,000 SF, 93% Leased
11.34 Acres with 15% Building to Land Ratio
Below Market Leases with $317,000 In Place NOI
Proforma NOI at $903,000 with market rents and rent on additional land
Kane County B-3 Zoning Offering Flexibility in Uses
Buildings Feature Overhead Doors and Docks with up to +/- 14’ Clear Height
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