8721 S Stony Island Ave - Storefront FOR SALE


Chicago, IL 60617- Calumet Heights
$5,400,000 USD
630-570-2169
8721 S Stony Island Ave, Chicago, IL for Sale
$5,400,000 USD
Storefront - FOR SALE
1/8
null | 6.33% Cap Rate

8721 S Stony Island Ave
Chicago, IL 60617
Calumet Heights


HIGHLIGHTS

  • DaVita Dialysis and Dunkin’ anchored center | Value-add opportunity - 16,128 vacant square feet
  • Dunkin’ operates on a corporate NNN ground lease outlot with 14+ years of term remaining
  • DaVita operates on a double net-lease with nearly 4 years of term remaining | Scheduled 3% annual rental increases (Located in CON State)
  • Long operating tenants | Dunkin’ has been at the center since 2004 and DaVita since 2014
  • Over 480 feet of frontage along South Stony Island Ave which sees 33,700 vehicles per day
  • Dunkin’ sits on its own parcel and can be sold off individually by new owner for cap rate arbitrage

OVERVIEW

This DaVita Dialysis and Dunkin’-anchored center offers a strong operating history and a compelling value-add opportunity. Dunkin’ has operated at the site since 2004 and recently exercised three of its five-year renewal options, further demonstrating its long-term commitment. The store operates under a corporate NNN ground lease with over 14 years remaining and 12.5% rent increases every five years. It features a drive-thru and sits on its own parcel, providing an opportunity for cap rate arbitrage via a future pad sale. DaVita has operated a high-volume dialysis clinic at this location since 2014, after acquiring an existing practice that had been in operation since 2000. The clinic is open six days a week, reflecting strong patient demand and utilization. DaVita signed a double-net lease with nearly four years remaining and 3% annual rent escalations. Importantly, the property is located in a Certificate of Need (CON) state for dialysis centers, creating a regulatory barrier to entry for potential competitors. The site also includes 16,128 SF of vacant space, presenting significant upside through new leasing activity. Situated in a dense Chicago neighborhood near two major hospitals, the property benefits from high traffic counts, excellent visibility, and a robust trade area with over 208,000 residents and more than 144,000 daytime workers within a three-mile radius.

FOR SALE DETAILS

PRICE

$5,400,000 USD

PRICE/SF

$184 USD /SF

CAP RATE

6.33%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Value-Add DaVita Dialysis & Dunkin'

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront

ADD'L SUBTYPES

Fast Food, Storefront Retail/Office, Medical

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1971

SPRINKLERS

-

PARKING SPACES

55

LAND DETAILS

LAND ACRES

1.72 AC

LAND SF

74,923 SF

ZONING

B4-7, Chicago

APN/PARCEL ID

25-01-102-022-0000,25-01-102-023-0000,25-01-102-024-0000

ASK ABOUT THIS PROPERTY

Daniel ChumbleySharko | Weisenbeck | Mendoza GroupMore Info
630-570-2169

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Daniel ChumbleySharko | Weisenbeck | Mendoza GroupMore Info
630-570-2169

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