3331 Belvidere Rd Park City, IL 60085
- Retail space
- 14,860 SF
- 1.55 lot acres
Current Use by Public Records
- Retail space
Property Details for 3331 Belvidere Rd
- Year built
- 1991
- Construction
- BRICK
- Lot size
- 1.55 lot acres
- Property size
- 14,860 SF
- Property type
- Retail space
- APN
- 08-30-301-007
- APU
- 830301007
Description
This exceptional investment opportunity presents a 14,868-square-foot, multi-tenant retail building situated on approximately two acres in Park City, Illinois, within the Chicago MSA (but outside Cook County). The property, constructed in 1991 and renovated in 2019, boasts a strong tenant mix, including a Family Dollar, Greenlight Dispensary, and Buddy's Cafe & Smoke Shop. All three tenants operate under passive net leases, minimizing landlord responsibilities. The property enjoys a 100% occupancy rate, generating a substantial net operating income (NOI) of $245,254, resulting in an attractive 8.00% cap rate. The asking price is $3,065,680, with a remaining lease term of four years. This strategically located asset sits at the southwest corner of Belvidere Road and Knight Avenue, immediately east of Skokie Highway, benefiting from high visibility and significant vehicular traffic. The property's location within a thriving retail corridor, coupled with the expanding cannabis market and limited competition in the submarket, presents a compelling investment proposition. Detailed lease information and rent bump schedules are available in the offering memorandum. The strong demographics of the area, with over 166 residents in close proximity, further enhance the property's investment appeal. This is a rare opportunity to acquire a well-performing, triple-net leased retail portfolio in a desirable location with significant upside potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $470,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $700,000
- 6.5%
- $720,000
- 7%
- $650,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $675,000
- Geo Method
- $610,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $695,000
- Retail
- $700,000
- Mixed-Use
- $660,000
- Hospitality
- $555,000
- Educational
- $670,000
- Residential Income
- $765,000
- Energy
- $695,000
- Income-Based Land
- $600,000
- Food Service
- $695,000
Location Insight
- Map
- Local Demand
- City
- Park City
- County
- Lake
- State
- Illinois
- Longitude
- -87.8833
- Latitude
- 42.3474
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
