Listed by Marcus & Millichap - Chicago Oak Brook, Marcus & Millichap - Palo Alto
$14,000,000
Fifty West Ogden
Details
Property Type Retail
Sub Type Auto Shop, Nnn
Square Footage 23,164
Cap Rate 5.75%
NOI $805,100
Occupancy 100%
Tenancy Single
Lease Type NN
Rent Bumps Yes
Class A
Year Built 2005
Year Renovated 2017
Stories 1
Acreage 3.050
Zoning B-2 General Business District
Parking Spaces 144 spaces
Parking Per SqFt 6.22
Investment Type Net Lease
Tenant Credit Credit Rated
Ground Lease No
Ownership Fee Simple
Sale Condition N/A
Retail | 5.75% CAP | 23,164 SqFt
Marketing description
This premium investment opportunity features a high-performance retail asset strategically located on the Westmont Auto Mile. Fully leased to Tesla (NASDAQ: TSLA), the property offers institutional-grade stability, an attractive yield with cash flow growth, and minimal management requirements.
The exceptionally well-positioned property spans 3.05 AC supporting 23,164 RSF of A-class retail space with 144 surface parking stalls.
The Property is being offered on a fee simple basis, free and clear of existing financing, and on an "as-is, where-is" basis.
Investment highlights
- INSTITUTIONAL-GRADE TENANT (TESLA, INC.) - Occupied by a global leader in electric vehicles (NASDAQ: TSLA), providing investors with credit-backed security and a high-profile brand that anchors the local automotive corridor.
- STRATEGIC "AUTO MILE" LOCATION - Situated on the prestigious Westmont Auto Mile, a premier regional luxury car destination. This property benefits from "clustering," surrounded by elite brands like Porsche, BMW, and Mercedes-Benz, which ensures high residual value and consumer draw.
- MISSION-CRITICAL SERVICE COMPONENT - This 23,164 SF facility serves as both a showroom and a specialized service center. Tesla's heavy investment in specialized electrical infrastructure and repair machinery creates high "stickiness," making the site difficult and expensive to relocate.
- AFFLUENT SUBMARKET DEMOGRAPHICS - Located in a primary Chicago suburb where average household incomes exceed $100,000 within a five-mile radius, providing a robust local customer base for Tesla's premium vehicle lineup.
- FUTURE UPSIDE & RENEWAL PROBABILITY - With nearly 5 years remaining and two 5-year renewal options, the asset offers immediate stability with significant long-term potential in a market where prime Ogden Avenue frontage is rarely available.
- STRONG CASH FLOW GROWTH - The lease features 2.0% annual rental escalations, offering a compounding yield and a built-in hedge against inflation throughout the remaining primary term and option periods.
- HIGH-YIELDING NNN STRUCTURE - A low-management Triple-Net (NNN) lease minimizes landlord exposure, with the tenant responsible for property taxes, insurance, and routine maintenance.
Listing Contacts
Listed by Marcus & Millichap - Chicago Oak Brook, Marcus & Millichap - Palo Alto
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$805,100.00
$67,091.67/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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