Price Reduced Listing
629-645 E 162nd Street,South Holland, IL 60473
South Holland, IL 60473
Description
South Holland Retail Strip building, located on well-traveled thoroughfare with good visibility. The building consists of four units with a total area of 6250 sqft. Construction is all masonry, built in 2008, with layout typical of in-line retail strip centers. Each unit is accessible from the street-facing side, with employee-only entrance/exit door on the rear side of the building. Unit 645, Seafood Junction, with a 1200 sqft area, on a Modified Gross terms has a projected yearly rent of $34,067/$28.18 per sqft. Unit 641, Flavor Addicts, with a 1200 sqft area, on a Modified Gross terms has a projected yearly rent of $36,000/$30.00 per sqft. Unit 637, is vacant. The projected rent as stabilized, should follow that of unit 641, with favorable terms. Units 629-633, combined units, with Serenity Home Health, is leased at $34,161/$21.03 sqft on Triple Net lease terms. Fully stabilized projected income is at $140,227, with expense reimbursements at $38,700, giving gross potential at $178,927. Effect gross income is at $173,560. Projected expenses at 101,351. NOI is calculated at $72,208 with vacancy and collection loss at 3.00%, which is consistent with market expectations. Current as is capitalization rate applied is 8%. Building is in good condition. Overall lot area is 18,393 sqft, with an asphalt paved parking area with 30 spaces.
Details
| MLS # | 12746756 |
|---|---|
| Listing Type | For Sale |
| Style | Retail/stores |
| Sub-Type | Resale |
| Status | Active |
| Year | 2008 |
| Days On Site | 50 |
| Listing Provided By | L & B All Star Realty Advisors LLC | Ira Lauter |
Features
| SQ Feet | 6,250 |
|---|---|
| Story(s) | 1 |
| Units | 4 |
| Zoning | COMMR |
| Acreage | 0.43 |
Interior
| Cooling | Central Air |
|---|
Utilities
| Electric | Separate Meters |
|---|
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 62549.4 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | South Holland |
| Zip Code | 60473 |
| Area | South Holland |
| Listing VS Median (in 60473) | |
Price: $840,000 low | high Med: $229,900 sqft: 6,250 low | high Med: 1,112 $ / sqft: $134 low | high Med: $207 On site: 50 low | high Med: 1 | |
Market Activity 60473
Request a showing
Request a showing
Contact
Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | South Holland |
| Zip Code | 60473 |
| Area | South Holland |
| Listing VS Median (in 60473) | |
Price: $840,000 low | high Med: $229,900 sqft: 6,250 low | high Med: 1,112 $ / sqft: $134 low | high Med: $207 On site: 50 low | high Med: 1 | |