38 N Broadway Street
Excellent Investor / User Opportunity Available for Sale
Marketing description
Phenomenal opportunity to own a boutique multi-unit commercial property that is ideal for investors and/or owner users. The building was well built in 1962 and has been excellently maintained. It features an updated interior, two restrooms, and a storage closet with a sink that could be converted into a common kitchenette. All tenants / units have access through both the front and side entrances. In addition to the two tandem parking spaces in the back of the building, street parking is available on both sides of Broadway Street.
Four of the five units (80% of the unit spaces) are currently leased and bring in an annual income of $27,900. The remaining space (Unit 3 (270 SF)) can be leased out or used by the new owner. Unit 3 has potential to bring in up to $9,000 annually.
ADDITIONAL FINANCIAL INFORMATION WILL BE DISCLOSED WITH A SIGNED NDA.
Investment highlights
• ASKING PRICE: $325,000
• NOI: $27,900 (at 80% leased)
• BUILDING SIZE: 1,950 SF
• LOT SIZE: 2,625 SF
• DESCRIPTION: Boutique 5-Unit Office / Personal Services / Medical Building
• PARKING: 2 Spaces (Tandem)
• PIN: 09-18-201-024-0000
• ZONING: General Commercial (C-3)
• Nestled Between Two Major Thoroughfares (Golf Road and Northwest Highway) With a Combined 46,700 VPD
• Excellent In-Place Tenants With Uses in the Medical and Personal Services Categories (Currently 80% Leased)
• Remaining Space (Unit 3 (270 SF)) Could be Leased Out or Used by the New Owner
• Close Proximity to the Metra Union Pacific Northwest (UP-NW) Line's Cumberland Station and Pace Buses
• A Short Distance to Downtown Des Plaines
• Area Retailers Include Mariano's, Caputo's Fresh Market, ALDI, Walmart Supercenter, Walgreens, Marshalls, Burlington, Ross, LA Fitness, Raising Cane's, Buona, Scooter's Coffee, and More
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