562 Torrence Ave Calumet City, IL 60409-3217
- Commercial real estate
- 0.07 lot acres
Current Use by Public Records
- Cal City Jewelers / Jewelry Store
- Kuties Spa Bus / Children'S Party Service
Property Details for 562 Torrence Ave
- Year built
- 2003
- Lot size
- 0.07 lot acres
- Property type
- Commercial real estate
- APN
- 29-12-415-031
- APU
- 2912415031
Description
Exceptional investment opportunity: a 9-unit Class B shopping center located at 562-578 Torrence Ave, Calumet City, IL 60409. This 10,000 square foot property, built in 2008, sits on a 30,049 square foot lot and offers 50 parking spaces. Currently boasting 90% occupancy with strong tenants including Subway and Boost Mobile, the center generates a substantial net operating income (NOI) of $181,741, with a pro-forma NOI of $215,341. The asking price is $2,125,000, representing a current cap rate of 8.55% and a pro-forma cap rate of 10.13%. The property is zoned B and features a gross lease structure. This multi-tenant retail center presents a compelling investment opportunity due to its strong cash flow, established tenancy, and potential for increased profitability. The property's location in Cook County, Illinois, provides excellent access to a dense population base. This is a 100% ownership opportunity. Don't miss this chance to acquire a well-established, income-producing retail center in a desirable location. The property's current performance and future potential make it an attractive addition to any investment portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Calumet City
- County
- Cook
- State
- Illinois
- Longitude
- -87.5595
- Latitude
- 41.6198
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
