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1604-1618 Sibley Blvd
Calumet City, IL 60409
Fully Occupied Neighborhood Strip | 9.00% CAP · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Fully occupied shopping center offered at a 9.00% CAP rate on current income. Year One Cash-on-Cash Return of 11.09% with current available financing
- The majority of leases feature above average annual rent increases
- Large pylon signage is visible to 25,500, vehicles per day | Full access into and out of the center onto Sibley Boulevard
- Rents are below market with plenty of room to push them higher
- All tenants operate on uniquely strong NNN leases, reimbursing for RE Taxes, CAM, Insurance, Management and additional Administrative Fees
- Highly leasable space with mostly small footprints and shallow depth bay suites. Dense demographics with 100,000 people within a 3-mile radius
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to offer the opportunity to purchase the fee simple interest in a 9,900-square foot retail center located at 1604 Sibley Blvd,
Calumet City, IL. Positioned along Sibley Blvd, the property features exposure to 25,500 vehicles per day. The site is 100% percent occupied and listed at an
attractive 9.00% percent CAP rate on in-place income.
All tenants are on true NNN leases, reimbursing for their pro rata share of Real Estate Taxes, CAM, Insurance, Management and Administrative Fees. The
tenants are synergistic in nature and cater to the surrounding market. With rents averaging $9.21/SF, and no specified option rents, there is room for a new
landlord to run, as well as built in annual rent increases in the majority of the tenants’ leases.
The demographics surrounding the property are especially dense, with almost 100,000 people within a 3-mile radius. The tenants also benefit from prominent
pylon signage, as well as unrestricted ingress and egress from the property’s access points. The site is just west of the signalized intersection of Torrence and
Sibley (41,000 combined traffic count), and east of a highly-trafficked Pete’s Fresh Market, which sees 1.1 million people per year.
Priced at a 9.00% percent CAP rate and a price per square foot of $113, this is an opportunity to purchase a high-yield retail opportunity with landlord friendly
NNN leases and plenty of room to grow the NOI over the near-term.
Calumet City, IL. Positioned along Sibley Blvd, the property features exposure to 25,500 vehicles per day. The site is 100% percent occupied and listed at an
attractive 9.00% percent CAP rate on in-place income.
All tenants are on true NNN leases, reimbursing for their pro rata share of Real Estate Taxes, CAM, Insurance, Management and Administrative Fees. The
tenants are synergistic in nature and cater to the surrounding market. With rents averaging $9.21/SF, and no specified option rents, there is room for a new
landlord to run, as well as built in annual rent increases in the majority of the tenants’ leases.
The demographics surrounding the property are especially dense, with almost 100,000 people within a 3-mile radius. The tenants also benefit from prominent
pylon signage, as well as unrestricted ingress and egress from the property’s access points. The site is just west of the signalized intersection of Torrence and
Sibley (41,000 combined traffic count), and east of a highly-trafficked Pete’s Fresh Market, which sees 1.1 million people per year.
Priced at a 9.00% percent CAP rate and a price per square foot of $113, this is an opportunity to purchase a high-yield retail opportunity with landlord friendly
NNN leases and plenty of room to grow the NOI over the near-term.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
9,900 SF
Building Class
C
Year Built
2006
Price
$1,562,035 CAD
Price Per SF
$157.78 CAD
Cap Rate
9%
NOI
$140,576 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.15
Lot Size
1.53 AC
Zoning
B
Parking
29 Spaces (2.93 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $121,409 CAD | |
| Land Assessment | $23,137 CAD | Total Assessment | $144,546 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$23,137 CAD
Improvements Assessment
$121,409 CAD
Total Assessment
$144,546 CAD
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