27 Harris Ave 3,120 SF 100% Leased Retail Building Millbrook, IL 60536 $155,000 ($49.68/SF) 7.83% Cap Rate

EXECUTIVE SUMMARY

Great investment opportunity! Mixed use building with 2 street level commercial spaces. Post office is located in one unit while a landscaping company is in the other. Has a 2-bedroom 1 bath apartment on the second story. All units occupied. Landlord is responsible for utilities of the commercial units. Water and sewage are well and septic for all units. Residential tenant pays gas and electric. (New Roof as of October 2024) Tree in the back of property has been removed.

FINANCIAL SUMMARY (ACTUAL - 2023)

ANNUAL ANNUAL PER SF
Gross Rental Income $21,144 $6.78
Other Income - -
Vacancy Loss - -
Effective Gross Income $21,144 $6.78
Taxes $3,096 $0.99
Operating Expenses $5,904 $1.89
Total Expenses $9,000 $2.88
Net Operating Income $12,144 $3.89

PROPERTY FACTS Under Contract

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,120 SF
Building Class
C
Year Built
1930
Price
$155,000
Price Per SF
$49.68
Cap Rate
7.83%
NOI
$12,144
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.28
Lot Size
0.26 AC
Zoning
Commercial
Parking
3 Spaces (0.96 Spaces per 1,000 SF Leased)
Frontage
48’ on Harris St

AMENITIES

  • 24 Hour Access

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • Transportation and Warehousing
  • -
  • -
  • -

The United States Postal Service has a storied history as the institution of their Government guaranteeing safe and secure communication among and between the Government and the American people. Many are familiar with their history, which began with the Second Continental Congress and Benjamin Franklin in 1775 and continued in 1787 when the Postal Clause of the U.S. Constitution empowered Congress to establish post offices and post roads. Congress exercised those powers with the passage of The Post Office Act of 1792, which made the Postal Service a permanent fixture of the Federal Government. The Act included provisions to facilitate freedom of the press, the privacy of personal correspondence, and expand the nation’s physical infrastructure, all vital to their nation’s growth and prosperity.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
Transportation and Warehousing - - -

PROPERTY TAXES

  • Listing ID: 34752284

  • Date on Market: 2/7/2025

  • Last Updated:

  • Address: 27 Harris Ave, Millbrook, IL 60536