Listed by Strauss Realty
$3,450,000
14600 Kilpatrick Avenue
Details
APN 28-10-116-068-0000
Property Type Industrial
Sub Type Warehouse, Industrial
Square Footage 35,900
Units 42
Cap Rate 8.98%
NOI $309,645
Occupancy 90.5%
Tenancy Multi
Pro-Forma Cap Rate 9.75%
Pro-Forma NOI $336,363
Lot Size (SqFt) 70,434
Parking Spaces 80 spaces
Parking Per SqFt 2.23
Industrial | 8.98% CAP | 35,900 SqFt
Marketing description
Strauss Realty, Ltd. is pleased to present 14600 Kilpatrick Avenue, a multi-tenant industrial investment opportunity in Midlothian, Illinois. The property consists of two buildings totaling approximately 35,900 square feet and 42 individual units, currently 90.5% leased. Building 1 (Units 1-14) includes approximately 9,800 SF, with units averaging 700 SF each. Building 2 (Units 15-42) totals approximately 26,100 SF, with units averaging 900 SF, including several combined spaces. A shared, secured restroom is located between Units 16 and 17. Offered at $3,450,000, the property features a diversified small-bay tenant base. Current NOI is $309,646, reflecting an 8.98% cap rate, with stable in-place income and potential for future rental growth. Recent capital improvements include demising select double units into single units, installation of bollards around gas meters, implementation of a mastered key system (GoldyLocks), and new heaters in select spaces. Ownership is currently completing installation of a required fire alarm system per the Village.
Listing Contacts
Listed by Strauss Realty
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$309,645.00
$25,803.75/mo
Valuation Metrics
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DSCR
8.98%
Cap Rate
8.98%
ROI
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