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Warehouse

Aurora Industrial Complex | Value-Add Multi-Tenant

631 W Park Ave, Aurora, IL 60506

Listing Price: $8,500,000

Cap Rate
10.91%
Gross SF
341,810
Price/Gross SF
$24.87
Lot Size
17.34 acres
Year Built
1950
Rentable SF
341,810

Investment Overview

--Excellent Value-Add Opportunity--

-Anchored by Apex Warehouse Systems, a Premier Service Provider of Warehouse Design, Automation Solutions and Storage Systems. Apex has Exhibited Ongoing Facility Commitment with Recent and Consistent Expansions

-The Remaining 35% of the GLA is Currently on MTM or Short-Term Leases with No Options

-Below Market Rents – Market Rent is in Excess of $4.00/SF/Year NNN, While the Subject Property Averages Just $3.30/SF/Year Modified Gross

-Generational Asset – First Time on the Market in 30+ Years

-Additional Opportunity to Add Value by Utilizing Available Land for Industrial Outdoor Storage (IOS)


--Strong Real Estate Fundamentals--

-18 Drive-In Doors and 14 Dock-High Doors | 13 Different Sprinkler Risers

-The Majority of the Property Benefits from High Ceiling Clearance Ranging from 18ft to 34ft

-Hard-to-Find Crane Facility – Operational but Not in Use

-Brick Building Reinforced with Metal and Concrete Masonry


--Pride Of Ownership Property in Aurora, IL--

-Ideally Located Within the Heart of Aurora - Illinois' Second-Largest City

-Strategically Positioned Among the Nation's Top 5 Industrial Markets Boasting Unparalleled Connectivity to Key Arterials

-Favorable Property Taxes – Situated in Kane County

Investment Highlights

  • Offered at a 10.91% Cap | Low Price Per SF of Just $24.87 (Well Below Replacement Value)
  • Below Market Rents – Low Average Rent/SF of Just $3.30/SF MG | Pro Forma Cash on Cash Return of Over 25%
  • Value-Add Opportunity – Investors Have the Ability to Achieve a Pro Forma Cap Rate of 15.28% by Leasing Up Vacancies and Renewing Existing MTM Leases at Market Rents

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s) IL: 471.011175

    Illinois

Financing By

Warehouse

Aurora Industrial Complex | Value-Add Multi-Tenant

Listing Price: $8,500,000

Cap Rate
10.91%
Gross SF
341,810
Price/Gross SF
$24.87
Lot Size
17.34 acres
Year Built
1950
Rentable SF
341,810

Investment Highlights

  • Offered at a 10.91% Cap | Low Price Per SF of Just $24.87 (Well Below Replacement Value)
  • Below Market Rents – Low Average Rent/SF of Just $3.30/SF MG | Pro Forma Cash on Cash Return of Over 25%
  • Value-Add Opportunity – Investors Have the Ability to Achieve a Pro Forma Cap Rate of 15.28% by Leasing Up Vacancies and Renewing Existing MTM Leases at Market Rents

Investment Overview

--Excellent Value-Add Opportunity-- -Anchored by Apex Warehouse Systems, a Premier Service Provider of Warehouse Design, Automation Solutions and Storage Systems. Apex has Exhibited Ongoing Facility Commitment with Recent and Consistent Expansions -The Remaining 35% of the GLA is Currently on MTM or Short-Term Leases with No Options -Below Market Rents – Market Rent is in Excess of $4.00/SF/Year NNN, While the Subject Property Averages Just $3.30/SF/Year Modified Gross -Generational Asset – First Time on the Market in 30+ Years -Additional Opportunity to Add Value by Utilizing Available Land for Industrial Outdoor Storage (IOS) --Strong Real Estate Fundamentals-- -18 Drive-In Doors and 14 Dock-High Doors | 13 Different Sprinkler Risers -The Majority of the Property Benefits from High Ceiling Clearance Ranging from 18ft to 34ft -Hard-to-Find Crane Facility – Operational but Not in Use -Brick Building Reinforced with Metal and Concrete Masonry --Pride Of Ownership Property in Aurora, IL-- -Ideally Located Within the Heart of Aurora - Illinois' Second-Largest City -Strategically Positioned Among the Nation's Top 5 Industrial Markets Boasting Unparalleled Connectivity to Key Arterials -Favorable Property Taxes – Situated in Kane County

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    Senior Vice President/Regional Manager

    (630) 570-2200

    License(s): IL: 471.011175

    Illinois

Financing By

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