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Office Warehouse

3520 Commercial Ave

3520 Commercial Ave, Northbrook, IL 60062

Listing Price: $1,800,000

Cap Rate
7.14%
Gross SF
30,820
Price/Gross SF
$58.40
Lot Size
1.58 acres
Year Built
1975
Rentable SF
30,820

Investment Overview

Marcus & Millichap is pleased to present the sale offering of 3520 Commercial Ave, Northbrook, IL, and multi-tenant industrial investment opportunity. The property is a part of Chicagolands North Shore community, where the median household income is more than $124,000. Furthermore, it is located in Sky Harbor Industrial Park which consists 1.8 million square feet of industrial and flex properties. The property has recently undergone significant renovations which include new roof and parking lot.

The subject property is 30,820 square feet, comprised of 3 units: two office units that are approximately 4,900 SF each, and one warehouse unit thats approximately 21,000 SF. It is currently 100% occupied and anchored by SavATree who occupies 84% of the building, . SavATree provides professional tree and lawn services in the Northwest, Mid-Atlantic, Midwest & Western regions. The private company was established in 1984 in Bedford, New York, and has expanded to 42 other locations across America. The tenant signed a new 7-year lease at the beginning in 2021, operating on a triple net lease.

The purchase of this offering presents an investor with a stable tenant providing a steady income, as well as a small value-add opportunity considering the small office unit with tenants on a below market rent. At the current list price of $1,800,000 the investment generates an in-place NOI of $128,523 which equates to a 7.14% cap rate.

Investment Highlights

  • Multi-tenant industrial investment opportunity
  • Strong anchor tenancy | SavATree | Triple net lease
  • Significant capital improvements recently completed
  • Affluent North Shore location | Median HH income of $124,000+
  • Immediate access to the interstate | I-294 and I-94
  • Significant upside | Below market rents

Exclusively Listed By

Listing Price: $1,800,000

Cap Rate
7.14%
Gross SF
30,820
Price/Gross SF
$58.40
Lot Size
1.58 acres
Year Built
1975
Rentable SF
30,820

Investment Highlights

  • Multi-tenant industrial investment opportunity
  • Strong anchor tenancy | SavATree | Triple net lease
  • Significant capital improvements recently completed
  • Affluent North Shore location | Median HH income of $124,000+
  • Immediate access to the interstate | I-294 and I-94
  • Significant upside | Below market rents

Investment Overview

Marcus & Millichap is pleased to present the sale offering of 3520 Commercial Ave, Northbrook, IL, and multi-tenant industrial investment opportunity. The property is a part of Chicagolands North Shore community, where the median household income is more than $124,000. Furthermore, it is located in Sky Harbor Industrial Park which consists 1.8 million square feet of industrial and flex properties. The property has recently undergone significant renovations which include new roof and parking lot.

The subject property is 30,820 square feet, comprised of 3 units: two office units that are approximately 4,900 SF each, and one warehouse unit thats approximately 21,000 SF. It is currently 100% occupied and anchored by SavATree who occupies 84% of the building, . SavATree provides professional tree and lawn services in the Northwest, Mid-Atlantic, Midwest & Western regions. The private company was established in 1984 in Bedford, New York, and has expanded to 42 other locations across America. The tenant signed a new 7-year lease at the beginning in 2021, operating on a triple net lease.

The purchase of this offering presents an investor with a stable tenant providing a steady income, as well as a small value-add opportunity considering the small office unit with tenants on a below market rent. At the current list price of $1,800,000 the investment generates an in-place NOI of $128,523 which equates to a 7.14% cap rate.

Exclusively Listed By

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