375 North Ave Glendale Heights, IL 60139

This Glendale Heights, Illinois industrial property presents a compelling investment opportunity. The 4,104-square-foot flex space building, constructed in 1982 and renovated in 2005, boasts a desirable location on North Avenue (Route 64), minutes from I-355. The property features a two-story layout with a 10-foot ceiling height, offering a blend of office and warehouse space. The warehouse area, accessible via a 12-foot drive-in door, comprises over 1,000 square feet and offers expansion potential. The office space includes three private offices on the main floor, a conference room, additional office space on the second floor, and three bathrooms. The open-flow entrance is well-suited for cubicles. This Class B building sits on a 33,000-square-foot lot, and includes an adjacent vacant lot, providing 153 feet of frontage. Currently vacant, the property is available for occupancy August 1, 2024. The asking price is $900,000, representing a current cap rate of 8.20% and a pro-forma cap rate of 5.33%. The net operating income (NOI) is $73,800, with a pro-forma NOI of $48,000. The property is zoned C and has the APN numbers 05-03-202-001 and 05-03-202-002.