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33194318
33194319

603 W GOLF RD, DES PLAINES, IL 60016-2462

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
Listed by Marcus & Millichap - Columbus
$3,165,000
13 days on market
Updated 13 days ago

603 W GOLF RD DES PLAINES IL 60016-2462

Details
APN 08131020080000
Property Type Retail
Sub Type Storefront, Shopping Center
Square Footage 15,042
Units 11
Cap Rate 7.5%
NOI $237,401
Occupancy 100%
Tenancy Multi
Year Built 1970
Year Renovated 2013
Buildings 1
Stories 1
Acreage 0.950
Investment Type Stabilized
Ground Lease No

About This Property

Marketing description

Retail • 15,129 SF • 02/15/2022

Investment highlights

• 15,042 SF, 11-Tenant Retail Strip in High- Traffic + Infill Suburban Chicago

• Dramatic Mark-to-Market Rent Upside: $15.78/SF NNN Avg. Rent / 5 of 11 Tenants are $6 - $14/SF Below-Market ($65K+ of NOI Upside)

• 30,280 VPD on W. Golf / Adjacent to 57,590 VPD Signalized Intersection

• Infill/Affluent Demo’s: 20K People in 1-Mi, 130K in 3-Mi / $116K - $121K AHHI’s in 1/3/5-Mi Radii

• Small, High-Demand Bay Sizes: Average of 1,367 SF; 100% are <2,500 SF

• Excellent Fundamentals: Shallow 61’ - 70’ Bay Depths / 3 Curb-Cuts / Double- Stacked Parking / Monument Signage

• 7 of 11 Tenants with 20+ Years of Tenancy; 4 of 11 with 25+ Years of Tenancy

• Daily-Needs Tenant Base: Dentist, Pizza, Nails, Hair, Accounting/ Insurance, Grocery, Bakery, Chiropractor, Florist

• 10 of 11 Leases feature Annual or CPI Rent Increases; Embedded NOI + Value Growth

• High-Performing Trade-Area (Placer.ai) with Several Top-Performing Neighbors: McDonalds, Firestone, Mariano’s, Binny’s Beverage Depot, Ace Hardware, Dollar Tree, Walgreens, Bank of America, Chase, Kohl’s, O’Reilly Auto

• Surrounded by Dense Residential Base: 1,000+ Units Amidst Several Neighboring Apartment Communities

• 3 Miles to Elk Grove Business Park (62M+ SF / Largest Industrial Park in the US)

• Anchored by Top-Performing Domino’s Location: Top 24% Nationally; #1 in Trade- Area

• 3 Miles from O’Hare International Airport (3rd Busiest Airport in US / Major Employment & Travel Hub)

• Suburban Chicago Location: 9.2M+ Person MSA / 3rd Largest GDP MSA in US

Listing Contacts

CF
OH 2008001551, OH SAL.2008001551
Marcus & Millichap - Columbus
Listed by Marcus & Millichap - Columbus

Valuation Calculator

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$237,401.00
$19,783.42/mo

Valuation Metrics

0
DSCR
7.5%
Cap Rate
7.5%
ROI

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