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1400 Sunset Ave 10,839 SF 100% Leased Office Building Waukegan, IL 60087 $1,350,000 ($124.55/SF) 6.81% Cap Rate
Investment Highlights
- 4 Drive in Doors
Executive Summary
We are pleased to present our new exclusive listing at 1400 Sunset Road, Waukegan, Illinois. This offering provides an opportunity to acquire a stabilized, 100%
occupied office property supported by long-term tenancy and durable construction. There are 5 units in the building. The asset delivers immediate, dependable
cash flow with minimal near-term rollover risk, making it well-suited for passive investors and 1031 exchange buyers.
The property consists of a one-story, ±10,839 SF office building constructed of brick and concrete block, offering low maintenance requirements and long-term
ownership stability. Additional features include a four-car attached garage (±945 SF), an unfinished basement, 34 on-site parking spaces, and excellent signage
exposure on a ±24,732 SF lot.
The asset is offered at a 6.81% in-place Cap Rate, providing investors with both income security and long-term return potential.
occupied office property supported by long-term tenancy and durable construction. There are 5 units in the building. The asset delivers immediate, dependable
cash flow with minimal near-term rollover risk, making it well-suited for passive investors and 1031 exchange buyers.
The property consists of a one-story, ±10,839 SF office building constructed of brick and concrete block, offering low maintenance requirements and long-term
ownership stability. Additional features include a four-car attached garage (±945 SF), an unfinished basement, 34 on-site parking spaces, and excellent signage
exposure on a ±24,732 SF lot.
The asset is offered at a 6.81% in-place Cap Rate, providing investors with both income security and long-term return potential.
Property Facts
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Office
Property Subtype
Medical
Building Size
10,839 SF
Building Class
C
Year Built
1960
Price
$1,350,000
Price Per SF
$124.55
Cap Rate
6.81%
NOI
$91,935
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
10,839 SF
Building FAR
0.44
Lot Size
0.57 AC
Zoning
B-2 - Neighborhood Mixed-Use District
Parking
33 Spaces (3.04 Spaces per 1,000 SF Leased)
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Property Taxes
| Parcel Number | 08-08-404-001 | Improvements Assessment | $121,623 |
| Land Assessment | $44,895 | Total Assessment | $166,518 |
Property Taxes
Parcel Number
08-08-404-001
Land Assessment
$44,895
Improvements Assessment
$121,623
Total Assessment
$166,518
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1400 Sunset Ave
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