Listing Agency: Compass

Listed By: Shamar Brossard · License #IL475184772 Show Phone

Source: Exprealty

Added: Oct 30, 2024 Changed: Sep 19 Last Checked: Oct 4 at 1:32PM

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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 Compass

Investment Insights

Based on property information with market context.

Located in Lindenhurst, IL, the property at 625 Bridgeport Terrace presents a versatile opportunity for entrepreneurs and investors. Currently used for retail, the property includes an expansive main room spanning over 6,500 square feet with a 14-foot clear height. It connects to a 1,000 square foot warehouse, which features a 10-foot overhead drive-in door and a triple basin. The property benefits from 86 feet of frontage and a parking lot that accommodates 36 vehicles. The space could be transformed into a full-service restaurant, potentially with gaming facilities, or a brewery or distillery. The layout is also adaptable for creative or medical offices. The property holds potential for special use projects. The village offers grants for permanent improvements. The location offers accessibility and visibility.

Key Highlights

• Expansive 6,500 SF main room with 14' clear height, ideal for diverse uses.
• Includes a 1,000 SF warehouse with a 10' overhead drive‑in door and triple basin.
• Large parking lot with 36 vehicle capacity and 86 feet of frontage.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$119,656

Cap Rate

7.87%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,393,120 $2.4M

Cap Rate 7%

$1,709,371 $1.7M

Cap Rate 9%

$1,329,511 $1.3M

Market Conditions

NOI Build-Up for 6,500 SF

Gross rent

$163.8K $25.20/SF

− Vacancy

−$4.3K −$0.66/SF

EGI

$159.5K $24.54/SF

− OpEx

−$39.9K −$6.14/SF

NOI

$119.7K $18.41/SF

Area

Lake County, IL

Vacancy

2.60%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,393,120

Cap Rate 7%

$1,709,371

Cap Rate 9%

$1,329,511

Alternative Uses

Best Use

Specialty Retail

$1.71M

$1.50M – $1.99M (±1% cap)

NOI $119,656 @ 7.0% cap · market cap 7.87%

Second Best

Office B

$1.28M

$1.12M – $1.49M (±1% cap)

NOI $89,624 @ 7.0% cap · market cap 5.90%

Theoretical Best

Office A

$2.24M

$1.96M – $2.62M (±1% cap)

NOI $157,091 @ 7.0% cap · market cap 10.33%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Retail space

Location Intelligence

Trade Area within ½ mile

302

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 60046, IL

34,690

Population

12,544

Households

2.8

Avg Household Size

41

Median Age

42%

College-Educated

94%

High-School Grad

23.0 sq mi

ZIP Area

1,508

Density / Sq Mi

$122,376

Median Household Income

$58,297

Median Earnings

$1,645

Median Rent

$282,500

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this warehouses located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Warehouse - Adaptable commercial space with retail, restaurant, office, and special use potential.

Where is this warehouse located?

The property is located at 625 N Bridgeport Ter Lindenhurst, IL.

What is the asking price?

The asking price for this property is $1,520,000.

What are key features of this property?

This property features: Expansive 6,500 SF main room with 14' clear height, ideal for diverse uses.; Includes a 1,000 SF warehouse with a 10' overhead drive‑in door and triple basin.; Large parking lot with 36 vehicle capacity and 86 feet of frontage.