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    3375 Grand Ave Waukegan, IL 60085

    Sponsored
    For Sale
    $2,599,000

    High-traffic retail area, 10-bay service. Excellent investment opportunity.

    Property size:
    10,244 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fully operational auto dealership situated on a full block in Waukegan, Illinois's highest-traveled retail district. The property, located at 3375 Grand Ave, Waukegan, IL 60085, boasts a substantial 10,244 square feet of space. The dealership features a well-equipped 10-bay service department, ensuring ample capacity for servicing vehicles. The property is currently operating at 100% occupancy and is offered for sale at $2,599,000 with a compelling 6.00% cap rate. The lease type is Absolute NNN, offering a straightforward and low-maintenance ownership structure. This single-tenancy property is ideal for investors seeking a stable, high-performing asset in a prime retail location. The property's strategic placement within a busy retail area guarantees high visibility and consistent customer traffic, making it an attractive investment with significant potential for future growth. The property is categorized as Retail, with subtypes including Pharmacy/Drug, QSR/Fast Food, and Shopping Center, reflecting its versatility and adaptability within the broader retail landscape. The remaining lease term is 0 years, presenting an opportunity for immediate ownership and control.

    Property Features for 3375 Grand Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    10,244 SF

    HighLights

    • High‑volume auto dealership with 10‑bay service center.
    • Entire city block in prime retail corridor.
    Property Profile Location Intelligence

    Current Use by Public Records

    Carfect Used Car Dealer

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Waukegan
    County
    Lake
    State
    Illinois
    Longitude
    -87.8843684
    Latitude
    42.3699388

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    FAQs

    What type of property is this?
    Lifestyle center - High-traffic retail area, 10-bay service. Excellent investment opportunity.
    Where is this lifestyle center located?
    The property is located at 3375 Grand Ave Waukegan, IL.
    What is the asking price?
    The asking price for this property is $2,599,000.
    What are key features of this property?
    This property features: High-volume auto dealership with 10-bay service center.; Entire city block in prime retail corridor.;
    Request Owner's contact information
    3375 Grand Ave Waukegan, IL 60085
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3375 Grand Ave Waukegan, IL 60085
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