215 W Elm St | Sycamore, IL 60178
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- LoopNet Team
215 W Elm St
Sycamore, IL 60178
Historic Office/Multifamily | Downtown · Office Property For Sale
INVESTMENT HIGHLIGHTS
- 95.89% occupied historic downtown investment opportunity with great value-add potential at a high NOI.
- Having tenants pay for their own utilities (gas, electricity, and water) will substantially reduce the operating costs and increase NOI.
- Appraised at $850,000 in 2014 and more than $200,000 invested in capital improvements.
- Flexible rent structure and superb downtown location allow a buyer the opportunity to renew or re-tenant at higher rental rates.
- The current NOI is $78,034. We will assess the price using a cap rate of 8% to 10%.
- Well maintained and constantly updated, this property is situated in a vibrant neighborhood.
PROPERTY FACTS
Property Type
Office
Property Subtype
Building Size
14,000 SF
Building Class
C
Year Built/Renovated
1920/2022
Percent Leased
96%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
4,667 SF
Building FAR
2.92
Lot Size
0.11 AC
Zoning
C-2 - Central Business District
AMENITIES
- Signage
- Storage Space
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 06-32-259-012 | Improvements Assessment | $191,501 |
| Land Assessment | $20,543 | Total Assessment | $212,044 |
PROPERTY TAXES
Parcel Number
06-32-259-012
Land Assessment
$20,543
Improvements Assessment
$191,501
Total Assessment
$212,044
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