South Holland Auto Center
For Sale
Contact for pricing
245 W 162nd St, South Holland, IL
Single tenant auto center for sale in South Holland, IL.
Property Size6,500 SF
Lot Size0.48 Acres
Price / SF$92.31
Days on Market713
Property Features for 245 W 162nd St
General Information
Standard status
Active
Size
6,500 SF
Lot size
0.48 Acres
Property subtype
RETAIL
Listing Agency:
Lagestee-Mulder (LM)
(708) 333-8338
Listed By:
Martha Winter · License #471002749
(224) 523-9174
Source:
Moodyscre
Added: Nov 15, 2024
Changed: Oct 25
Last Checked: Oct 28 at 12:10PM
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 (LM)
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Investment Insights
Based on property information with market context.
This single-tenant auto center is available for acquisition, situated at 239 W 162nd Street in South Holland, IL. The property is located on the south side of 162nd Street, also known as Route 6, and is approximately 10 minutes from both Interstate 94 to the east and Interstate 294 to the west. The location benefits from high daily traffic counts on 162nd Street, ranging from 23,000 to 31,000 vehicles per day. The building has approximately 6,500 square feet of leasable area and is situated on a 0.46-acre lot. The facility includes 8 operational car bays, a dedicated office, and a waiting area. Recent improvements include a new 60-mil TPO roof installed in 2024 with a 20-year warranty, and a new furnace with a 10-year warranty. The property is currently 100% occupied by a long-tenured tenant who recently signed a new triple net lease for a primary term of 7 years, with two 5-year option periods. The rental rate includes a 6.6% increase in the fourth lease year and a 3.7% increase in the sixth lease year. During the option periods, rents increase 2% annually. Nearby retailers include Dunkin Donuts, Wendy’s, Browns Chicken, and Pizza Hut, as well as Advocate Health Care and UChicago Medicine. This property offers a long-term, absolute net leased auto center investment opportunity in the Chicago MSA.
Key Highlights
- Single‑tenant, net‑leased auto center providing passive income.
- New 7‑year triple net lease with a long‑tenured tenant, plus two 5‑year options.
- Rental rate increases built into the lease, including 6.6% in year four and 3.7% in year six.
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Auto shop - Single tenant auto center for sale in South Holland, IL.
Where is this auto shop located?
The property is located at 245 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: Single‑tenant, net‑leased auto center providing passive income.; New 7‑year triple net lease with a long‑tenured tenant, plus two 5‑year options.; Rental rate increases built into the lease, including 6.6% in year four and 3.7% in year six.
