11425 Harlem Ave Worth, IL 60482
- Commercial real estate
- 0.30 lot acres
Current Use by Public Records
- Curaleaf / Cannabis Store / Alternative Medicine Practitioner
Property Details for 11425 Harlem Ave
- Year built
- 1994
- Lot size
- 0.30 lot acres
- Property type
- Commercial real estate
- APN
- 24-19-120-036
- APU
- 2419120036
Description
This exceptional investment opportunity presents a 7,381 square foot Curaleaf cannabis dispensary in Worth, Illinois, situated within the Chicago MSA. Boasting a strong 8.50% cap rate and a substantial net operating income (NOI) of $237,090, this property offers a secure, long-term investment. The property is under a 10-year triple net (NNN) lease with Curaleaf, a leading national cannabis company, commencing March 8, 2021, and expiring March 7, 2031, with two 5-year renewal options. Rent increases by 10% every five years are built into the lease. The building, constructed in 1974 and extensively renovated in 2019, sits on a 0.66-acre lot at 11425 S Harlem Ave, 60482, benefiting from high daily traffic counts on Harlem Avenue (36,500 vehicles) and its proximity to Interstate 294 (over 133,000 vehicles daily). Its strategic location is further enhanced by its adjacency to Water's Edge Golf Course, proximity to Moraine Valley Community College, and its close proximity to the Chicago Ridge Mall and Chicago Midway International Airport. The sale price is $2,789,294, translating to $377.90 per square foot. The tenant is backed by a corporate guarantee, ensuring a secure investment with 100% occupancy. This presents a rare opportunity to acquire a high-performing asset in a rapidly growing market, capitalizing on the legal recreational cannabis industry in Illinois. The property's strong tenant, favorable lease terms, and prime location combine to create a compelling investment proposition.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,565,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,395,000
- 6.5%
- $2,255,000
- 7%
- $2,165,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,395,000
- Geo Method
- $2,420,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,215,000
- Retail
- $1,905,000
- Mixed-Use
- $1,910,000
- Hospitality
- $2,030,000
- Educational
- $2,425,000
- Residential Income
- $2,160,000
- Energy
- $2,395,000
- Income-Based Land
- $2,080,000
- Food Service
- $2,110,000
Location Insight
- Map
- Local Demand
- City
- Worth
- County
- Cook
- State
- Illinois
- Longitude
- -87.7968
- Latitude
- 41.6829
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
