8314-8324 W. Grand Avenue
Retail | 11,971 SqFt
Marketing description
@properties presents 8324 W. Grand Avenue, a newly gut-rehabbed mixed-use building located in the desirable River Grove community. This two-story property features eight fully renovated residential apartments on the upper floor and three retail/commercial storefronts on the ground level, totaling approximately 11,717 SF of rentable space.
The building has been taken to the studs and comprehensively updated with modern finishes and systems. The residential unit mix includes seven 2-bedroom/2-bathroom apartments and one 3-bedroom/2-bathroom unit, all designed to command premium rents in the local market. Individual HVAC and Metered Apartments with 8 Allocated Garage Spaces and 3 Laundry Rooms round out the residential portion.
The property sits on a high-traffic corridor with exceptional visibility on Grand (22,000 traffic count) and a Block East of Cumberland / Thatcher. Retail portion is waiting finishing touches - ideal for Gaming, Bar / Restaurant that can double the investment with the residential rents. 3 PIN"s include the side lot that add an additional 15 parking spaces to benefit both retail tenants and residential occupants.
Pro Forma Data includes below-rent comps vs the Groves with similar proximity to Metra. Lease Up anticipated to kick off early fall. For any additional questions- please reach out.
Investment highlights
- Full gut rehab / newer construction — all new systems and finishes
- 7 x 2BR/2BA + 1 x 3BR/2BA residential units + 3 retail storefronts
- 20 dedicated surface parking spaces — rare suburban amenity
- Unstabilized lease-up opportunity with strong pro forma upside
- Walking distance to Metra MD-W (Milwaukee District West) — River Grove station
- High-traffic W. Grand Avenue corridor with excellent visibility
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