4357 N Lincoln Ave
Retail | 7% CAP | 1,230 SqFt
Marketing description
Perfect commercial condo opportunity for an investor or owner/occupier!
The unit is already nicely built out and currently tenanted with an arts and crafts business. B1-2 zoning which permits a variety of retail uses.
Tenant pays $3,150 / month until 10/31/26 and $3,200 / month between 11/01/26 - 10/31/27. There is an option to renew for an additional 3 years at 5 per cent more than the prior year.
Tenant pays for all expenses other than Mortgage, Property Tax and HOA. Low HOA fees currently $85.90 per month.
Current passing income implies a cap rate ~7% for 2026.
Investment highlights
Ideal location in Lincoln Square very near Welles Park
Clean well finished commercial unit
Currently tenanted with 2 years left on the lease and an option to renew for an additional 3 years
Successful appeal of property taxes will lead to a significant reduction in 2024 taxes
Cap rate rises to ~9% including the benefit of the property tax reduction
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