Listed by Millennium Properties R/E
$450,000
Single Tenant Retail on Busy Archer Ave Offered at a 10 Cap
Details
Property Type Retail
Sub Type Storefront
Square Footage 6,000
Price per SqFt $75
Retail | 6,000 SF
Marketing description
A net leased 6,000 square foot retail storefront on Archer Avenue is available for sale. Near Kedzie Avenue, the building is leased to a well-established Cosmetology school, Cannella School of Hair Design and is one of six locations throughout Chicagoland. This long-term tenant is currently under the second renewal option of their lease until June 2022. Tenant has a 10-year option through 2032, which they plan to execute early. The building generates $48,000/NN per year in rent.
The property is in a great location, close to public transportation, major roads and I-55 Stevenson expressway. Nearby businesses include local and national retailers such as Walgreens, Dunkin’, Jewel-Osco, Pete’s Fresh Market, several restaurants and more.
The property is in a great location, close to public transportation, major roads and I-55 Stevenson expressway. Nearby businesses include local and national retailers such as Walgreens, Dunkin’, Jewel-Osco, Pete’s Fresh Market, several restaurants and more.
Named one of Redfin’s hottest neighborhoods for 2015, Brighton Park is a neighborhood on the southwest side of Chicago approximately 15 minutes from the Loop. Close to I-55, this is a desirable location for many businesses and residents.
Investment highlights
- 6,000 SF retail storefront
- Net leased to Cannella School of Hair Design
- Currently in second renewal lease option until June 2022 - with 10-year option to renew through 2032
- Current Annual Rent: $48,000 net
- Tenant pays taxes, insurance, utility and maintenance costs
- Great visibility on Archer Ave near Kedzie Ave
- Projecting sign adds to visibility
- Nearby businesses include Walgreens, Dunkin’, Jewel-Osco Pete’s Fresh Market and more
- Traffic count: 25,237 vehicles daily
- Zoning: B3-2
Listing Contacts
Listed by Millennium Properties R/E
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