Listed by Millennium Properties R/E
$475,000
7260 W. 79th St
Details
Property Type Retail
Sub Type Storefront
Square Footage 1,950
Cap Rate 6.30%
NOI $30,000
Tenancy Single
Lease Type NNN
Lease Expiration 08/30/2017
Rent Bumps Yes
Lot Size (SqFt) 17,550
Zoning C, commercial
Investment Type Net Lease
Tenant Credit No Credit Rating
Retail | 6.30% CAP | 1,950 SqFt
Marketing description
Just off of the corner of Harlem and 79th, this 1,950 square foot free-standing retail building is net leased to Title Max. The current lease term expires in August 2017; two five-year renewal options with 10% rent increases remain. The property is located in a strong retail discount area, with Kmart, Walgreens, Dollar General, Panera, Aldi and Starbucks nearby. The property is highly visible, with 209' of frontage on 79th as well as an LED pedestal sign.
Bridgeview has a strong mix of residential, commercial and industrial areas. Residents and businesses alike appreciate the proximity to Midway Airport and the Loop as well as the ready access to several major highways.
Investment highlights
- 1,950 SF free-standing retail
- Net leased to Title Max
- Current term ends Aug. 2017
- Two 5-year renewal options with 10% rent increases
- Nearby retailers include Kmart, Walgreens, Aldi, Starbucks
- Highly visible pedestal LED sign
- Est. NOI (2015): $30,000
- Initial Cap Rate: 6.3%
- Land Area: 17,550 SF
- Traffic Count: 23,800 cars daily
- Zoning: C, commercial
- Taxes (2016): $26,176
Listing Contacts
Listed by Millennium Properties R/E
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$30,000.00
$2,500.00/mo
Valuation Metrics
0
DSCR
6.32%
Cap Rate
6.32%
ROI
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