Office Warehouse

USPS Anchored Multi-Tenant Industrial

Listing Price: $4,200,000

Cap Rate
8.06%
Gross SF
61,547
Price/Gross SF
$68.24
Rentable SF
61,547

Investment Overview

Marcus & Millichap is pleased to present the sale offering of 6500 N Lincoln Ave, Lincolnwood, IL a multi-tenant industrial/flex investment opportunity. The subject property is located directly off I-94 and resides on the heavily traveled corner of Lincoln Avenue and West Devon Avenue. This corridor is home to many national retail brands and just a few blocks south of the Lincolnwood Town Center. The dense in-fill location contains a total population of 860,000+ within a 5-mile radius.

The subject property is 62,000 square feet and currently comprised of 3 tenants and one 8,000 square foot vacancy, bringing the current occupancy to 87%. The property is anchored by United States Postal Service (USPS) who currently occupies 41,000 square-feet and has been a tenant at the property since 2010. USPS is an independent agency of the executive branch of the United States federal government. In the fiscal year 2019, USPS reported an operating revenue of $71.1 billion which was an increase of $514 million compared to the prior year. Along with having a stable anchor tenant, the property contains a value-add opportunity through leasing the remaining vacant unit. By leasing the vacant 8,000 square-feet, an investor contains the opportunity to significantly improve their cash-flow. Within a 3-mile radius, industrial/flex property has a vacancy rate of 3.6%.

The purchase of this offering presents an investor with a stable multi-tenant asset that contains upside through further leasing and management. At the current list price of $4,200,000 the investment generates an in-place NOI of $323,538 which equates to a 7.70% cap rate at 87% occupancy. By leasing the vacant unit, an investor has the ability to increase their in-place cap rate to 9.25%.

Investment Highlights

  • Multi-tenant industrial/flex investment offering
  • Significant anchor tenant | United States Postal Service
  • Value-add opportunity through leasing of 8,000 SF vacant unit
  • Dense In-Fill Location | 860,000+ Population Within Five-Mile Radius
  • Immediate access to Interstate 94
  • 10 miles north of the Chicago central business district

Exclusively Listed By

  • Peter Doughty

    Associate

    Email Peter

    License(s): IL: 475.177502

    Chicago Downtown

Office Warehouse

USPS Anchored Multi-Tenant Industrial

Listing Price: $4,200,000

Cap Rate
8.06%
Gross SF
61,547
Price/Gross SF
$68.24
Rentable SF
61,547

Investment Highlights

  • Multi-tenant industrial/flex investment offering
  • Significant anchor tenant | United States Postal Service
  • Value-add opportunity through leasing of 8,000 SF vacant unit
  • Dense In-Fill Location | 860,000+ Population Within Five-Mile Radius
  • Immediate access to Interstate 94
  • 10 miles north of the Chicago central business district

Investment Overview

Marcus & Millichap is pleased to present the sale offering of 6500 N Lincoln Ave, Lincolnwood, IL a multi-tenant industrial/flex investment opportunity. The subject property is located directly off I-94 and resides on the heavily traveled corner of Lincoln Avenue and West Devon Avenue. This corridor is home to many national retail brands and just a few blocks south of the Lincolnwood Town Center. The dense in-fill location contains a total population of 860,000+ within a 5-mile radius.

The subject property is 62,000 square feet and currently comprised of 3 tenants and one 8,000 square foot vacancy, bringing the current occupancy to 87%. The property is anchored by United States Postal Service (USPS) who currently occupies 41,000 square-feet and has been a tenant at the property since 2010. USPS is an independent agency of the executive branch of the United States federal government. In the fiscal year 2019, USPS reported an operating revenue of $71.1 billion which was an increase of $514 million compared to the prior year. Along with having a stable anchor tenant, the property contains a value-add opportunity through leasing the remaining vacant unit. By leasing the vacant 8,000 square-feet, an investor contains the opportunity to significantly improve their cash-flow. Within a 3-mile radius, industrial/flex property has a vacancy rate of 3.6%.

The purchase of this offering presents an investor with a stable multi-tenant asset that contains upside through further leasing and management. At the current list price of $4,200,000 the investment generates an in-place NOI of $323,538 which equates to a 7.70% cap rate at 87% occupancy. By leasing the vacant unit, an investor has the ability to increase their in-place cap rate to 9.25%.

Exclusively Listed By

  • Peter Doughty

    Associate

    Email Peter

    License(s): IL: 475.177502

    Chicago Downtown

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