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1720-1776 W Algonquin Rd, Mount
Mount Prospect, IL 60056
Retail Property For Sale
Investment Highlights
- 74.4% occupied retail center with all tenants operating on unusually strong NNN reimbursement lease structures
- Multiple tenants are paying below market rents with no options, providing further room for upside upon lease roll
- Positioned in the middle of three signalized intersections | Visibility to a combined traffic count of over 50,000 vehicles per day
- Priced at an 8.15% CAP on the current, in-place NOI with room to grow the NOI significantly by leasing up a 5,800 square foot vacancy
- The majority of tenants have above average annual rent increases structured throughout the primary terms of their leases
- Ideal demographics with 100,000 people and an average household income of $114,000 within 3-miles
Property Facts
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
22,910 SF
Building Class
C
Year Built
1964
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.36
Lot Size
1.45 AC
Zoning
B3
Parking
150 Spaces (6.55 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Property Manager on Site
Property Taxes
| Parcel Numbers | Improvements Assessment | $465,784 | |
| Land Assessment | $274,225 | Total Assessment | $740,009 |
Property Taxes
Parcel Numbers
Land Assessment
$274,225
Improvements Assessment
$465,784
Total Assessment
$740,009
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