631 W Park Ave - Manufacturing FOR SALE


Aurora, IL 60506- Blackhawk
$8,500,000 USD
714-366-0626
631 W Park Ave, Aurora, IL for Sale
$8,500,000 USD
Manufacturing - FOR SALE
1/10
null | 10% Cap Rate

631 W Park Ave
Aurora, IL 60506
Blackhawk


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
  • Please see OM for additional highlgihts

OVERVIEW

--Offered at a 10.00% 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 15.23% by Leasing Up Vacancies and Renewing Existing MTM Leases at Market Rents --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 Illinois Broker of Record: Steven Weinstock One Mid America Plaza, Ste. 200 Oakbrook Terrace, IL 60181 P: (630) 570-2200 Lic. #: 471.011175

FOR SALE DETAILS

PRICE

$8,500,000 USD

PRICE/SF

$25 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Chicago MSA Industrial Complex

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Manufacturing

ADD'L SUBTYPES

Distribution, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

UTILITIES

Gas, Water - City, Sewer - City, Heating - Gas

CLEAR CEILING HT

14 Ft

DOCKS

14

DRIVE INS

18

PARKING SPACES

-

LAND DETAILS

LAND ACRES

17.34

LAND SF

755,330

ZONING

M-2

APN/PARCEL ID

15-16-378-006,15-21-126-009

ASK ABOUT THIS PROPERTY

James AndrewsMarcus & MillichapMore Info
714-366-0626

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James AndrewsMarcus & MillichapMore Info
714-366-0626

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