Auto Shop on Busy
For Sale
Contact for pricing
239 W 162nd St, South Holland, IL 60473
Auto shop with 8 bays in South Holland auto corridor.
Property Size6,500 SF
Price / SF$92.31
Days on Market848
Property Features for 239 W 162nd St
General Information
Standard status
Active
Size
6,500 SF
Class
C
Property subtype
Retail
Zoning
General Business - Commercial
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$45,000
Building Details
Year Built
1989
Year Renovated
2014
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Lagestee-Mulder Inc
Listed By:
Martha Winter · License #471002749
(708) 333-8338
Source:
Crexi
Added: Jun 10, 2024
Changed: Sep 20
Last Checked: Oct 4 at 9:09AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lagestee-Mulder Inc
Investment Insights
Based on property information with market context.
This is an auto shop building with 8 bays. The property is located in the center of the South Holland auto corridor on busy Hwy 6, which has a traffic volume of 23,500 vehicles per day. The property is subject to an absolute NNN lease with zero landlord expenses. The initial lease term is 7 years, with two 5-year options. The lease includes a 2% annual escalation.
Key Highlights
- Absolute NNN Lease: Enjoy a completely passive investment with zero landlord expenses.
- 7‑Year Initial Term: Benefit from a stable, long‑term income stream, plus two 5‑year renewal options.
- Annual Escalation: Healthy 2% annual rent increases protect against inflation and increase your ROI.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,980
Cap Rate
4.66%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$559,600
$559.6K
Cap Rate 7%
$399,714
$399.7K
Cap Rate 9%
$310,889
$310.9K
Market Conditions
NOI Build-Up for 6,500 SF
Gross rent
$42.1K $6.48/SF
− Vacancy
−$2.1K −$0.33/SF
EGI
$40.0K $6.15/SF
− OpEx
−$12.0K −$1.84/SF
NOI
$28.0K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$559,600
Cap Rate 7%
$399,714
Cap Rate 9%
$310,889
Alternative Uses
Best Use
Retail
$1.29M
$1.13M – $1.50M
NOI $90,221 @ 7.0% cap · market cap 15.04%
Second Best
Industrial
$399.7K
$349.8K – $466.3K
NOI $27,980 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $157,091 @ 7.0% cap · market cap 26.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60473, IL
21,661
Population
7,969
Households
2.7
Avg Household Size
43
Median Age
27%
College-Educated
92%
High-School Grad
7.8 sq mi
ZIP Area
2,777
Density / Sq Mi
$88,046
Median Household Income
$40,903
Median Earnings
$1,914
Median Rent
$200,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Auto shop - Auto shop with 8 bays in South Holland auto corridor.
Where is this auto shop located?
The property is located at 239 W 162nd St South Holland, IL.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Absolute NNN Lease: Enjoy a completely passive investment with zero landlord expenses.; 7‑Year Initial Term: Benefit from a stable, long‑term income stream, plus two 5‑year renewal options.; Annual Escalation: Healthy 2% annual rent increases protect against inflation and increase your ROI.
