Listed by EXIT Strategy Realty
$1,099,000
THREE LOT PROPERTY / 8.1% CAP RATE
Details
APN 13014320260000
Property Type Special Purpose, Office
Sub Type Traditional Office, Auto Shop
Square Footage 4,800
Net Rentable (SqFt) 8,000
Units 5
Beds 4
Cap Rate 8.10%
NOI $89,173
Occupancy 100%
Tenancy Multi
Lease Type Gross
Lease Expiration 05/31/2027
Lease Options NONE
Price per SqFt $137
Year Built 1938
Year Renovated 2020
Buildings 2
Stories 3
Lot Size (SqFt) 9,375
Zoning COMMR
Investment Type Owner/User
Lease Commencement 05/01/2019
Ground Lease No
Ownership FEE SIMPLE
THREE LOT PROPERTY IN ARCADIA TERRACE
Marketing description
PRIME INVESTMENT OPPORTUNITY---8.1 CAP RATE---FULLY occupied THREE-lot / THREE pin investment/owner property with a tremendous traffic count and C1-2 ZONING for many businesses. Rent increases coming in September. ALL TENANTS ARE ON YEARLY LEASES EXCEPT FOR 5822 WHICH IS M-T-M. From left to right it consists of: 5618-gated parking lot/5620 three story mixed use---ALL NEW REHAB-- with a store, 200 amp panel, front-back office plus three private offices, upstairs has two 2-BR apartments, 100 amp panel, with separate dining, all with separate NEW HVAC plus hardwood floors plus all NEW steel back decks, NEW hot water tank, NEWER roof-5 years, rebuilt parapets, tuckpointed/5622 is a free standing 1 story flexi-core commercial garage---levels can be added---200-amp 3-phase+200amp panel. 5620+18 are MTM, rents. Just slightly north of Bryn Mawr and adjacent to the booming Devon corridor along with Lincoln Square, Ravenswood, Edgewater. Easy access to public transportation and Lake Shore Drive.
Investment highlights
- C1-2 ZONING
- PRIME INVESTMENT OPPORTUNITY---8.1% CAP RATE
- IDEAL FOR OWNER OPERATOR
- ROOM FOR RENT BOOST
- 30,000 CAR PER DAY TRAFFIC
Listing Contacts
Listed by EXIT Strategy Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$89,173.00
$7,431.08/mo
Valuation Metrics
0
DSCR
8.11%
Cap Rate
8.11%
ROI
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