Listed by KW Commercial Chicago - Lincoln Park
$600,000
Standalone Retail Store 423 E. 63rd St.
Details
APN 20-22-200-006-0000, 20-15-410-029-0000
Property Type Retail
Sub Type Convenience Store, Day Care/Nursery
Square Footage 5,000
Units 5
Cap Rate 7.95%
NOI $59,639
Tenancy Vacant
Pro-Forma Cap Rate 10.00%
Pro-Forma NOI $60,720
Price per SqFt $120
Class C
Year Built 1969
Year Renovated 2011
Buildings 1
Stories 1
Acreage 0.150
Zoning B3-3
Investment Type Value Add
Ground Lease No
Standalone Retail Store 423 E. 63rd St.
Marketing description
KW Commercial & Keller Williams ONEChicago is proud to present 423 E. 63rd St., Chicago, IL 60637. Located in the West Woodlawn Neighborhood: Situated in one of Chicago's emerging neighborhoods, the property is strategically located in West Woodlawn. This area has been experiencing a revitalization, making it an attractive location for both residents and businesses.
Investment highlights
- Value-Add Opportunity: The property presents a significant value-add opportunity for investors looking to reposition and rebrand the retail space. With the changing dynamics of the neighborhood, there is potential for increased foot traffic and customer engagement.
- Adaptive Reuse Potential: Given the versatile nature of the space, there is potential for adaptive reuse, accommodating various retail concepts, restaurants, or service-oriented businesses that align with the evolving needs of the community.
- Community Growth: West Woodlawn is experiencing positive growth, attracting new residents and businesses. Investing in this property aligns with the trend of urban renewal and the potential for increased property values over time.
- Strategic Location: The property's location on 63rd St positions it as a focal point for local commerce, providing an opportunity for businesses to become a central part of the community and capitalize on the neighborhood's growth.
- Diverse Consumer Base: The West Woodlawn neighborhood is known for its diverse demographics, offering a broad customer base for businesses looking to cater to a varied audience.
Listing Contacts
Listed by KW Commercial Chicago - Lincoln Park
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$59,639.00
$4,969.92/mo
Valuation Metrics
0
DSCR
9.94%
Cap Rate
9.94%
ROI
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