1850 N Harlem Ave - Freestanding FOR SALE


Elmwood Park, IL 60707
$7,377,000 USD
214-560-6900
1850 N Harlem Ave, Elmwood Park, IL for Sale
$7,377,000 USD
Freestanding - FOR SALE
1/9
null | 7% Cap Rate

1850 N Harlem Ave
Elmwood Park, IL 60707


HIGHLIGHTS

  • Corporate Guaranteed Leases | Options To Extend | Scheduled Rental Increases
  • Absolute NNN Leases | Fee Simple Ownership | Zero Landlord Responsibilities
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS Multi-Tenant Investments is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, 2-tenant investment property located in Elmwood Park, Illinois. The tenant, Little Newton’s, has an agreement in place to extend the lease until 6/30/2037, bringing the term remaining to over 12 years with 4 (5-year) options to extend, demonstrating their commitment to the site. Foss Swim School has over 4 years of term remaining. Both leases currently feature 1.5% annual rental increases throughout the initial term and Little Newton’s extend throughout each option period, steadily growing NOI and hedging against inflation. The leases are absolute NNN in structure with zero landlord responsibilities making it an ideal investment opportunity for a passive investor.

FOR SALE DETAILS

PRICE

$7,377,000 USD

PRICE/SF

$364 USD /SF

CAP RATE

7%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Little Newtons & Foss Swim School

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Day Care Center, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

53

LAND DETAILS

LAND ACRES

1.12 AC

LAND SF

48,787 SF

ZONING

Commercial

APN/PARCEL ID

12-36-415-044-1002

ASK ABOUT THIS PROPERTY

Michael KaplanSRS Real Estate PartnersMore Info
214-560-6900

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Michael KaplanSRS Real Estate PartnersMore Info
214-560-6900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.