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503 S Westgate St 7,300 SF 70% Leased Industrial Building Addison, IL 60101 $894,900 ($122.59/SF) 8.31% Cap Rate
INVESTMENT HIGHLIGHTS
- Very well maintained 7300 SF building on 15682 SF parcel
- New Roof
- Overhead door
- All units are currently rented with monthly gross income of $8333
- 14' Ceiling
- Newly updated office
EXECUTIVE SUMMARY
Very well maintained 7300 SF building on 15682 SF parcel. With 14' Ceiling, overhead door and newly updated office. Newer roof. all units are currently rented with monthly gross income of $8333. Minutes to I355.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$96,996
|
$13.29
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$96,996
|
$13.29
|
| Taxes |
$15,532
|
$2.13
|
| Operating Expenses |
$4,600
|
$0.63
|
| Total Expenses |
$20,132
|
$2.76
|
| Net Operating Income |
$76,864
|
$10.53
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $96,996 |
| Annual Per SF | $13.29 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $96,996 |
| Annual Per SF | $13.29 |
| Taxes | |
|---|---|
| Annual | $15,532 |
| Annual Per SF | $2.13 |
| Operating Expenses | |
|---|---|
| Annual | $4,600 |
| Annual Per SF | $0.63 |
| Total Expenses | |
|---|---|
| Annual | $20,132 |
| Annual Per SF | $2.76 |
| Net Operating Income | |
|---|---|
| Annual | $76,864 |
| Annual Per SF | $10.53 |
PROPERTY FACTS
| Price | $894,900 | Lot Size | 0.20 AC |
| Price Per SF | $122.59 | Rentable Building Area | 7,300 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Cap Rate | 8.31% | Year Built | 1965 |
| Property Type | Industrial | Parking Ratio | 3.42/1,000 SF |
| Property Subtype | Warehouse | No. Drive In / Grade-Level Doors | 4 |
| Building Class | C | ||
| Zoning | M-2 - M-2, General Manufacturing zoning | ||
| Price | $894,900 |
| Price Per SF | $122.59 |
| Sale Type | Investment or Owner User |
| Cap Rate | 8.31% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 0.20 AC |
| Rentable Building Area | 7,300 SF |
| No. Stories | 1 |
| Year Built | 1965 |
| Parking Ratio | 3.42/1,000 SF |
| No. Drive In / Grade-Level Doors | 4 |
| Zoning | M-2 - M-2, General Manufacturing zoning |
AMENITIES
- Signage
UTILITIES
- Water - City
- Sewer - City
- Heating - Gas
1 1
PROPERTY TAXES
| Parcel Number | 03-33-108-001 | Total Assessment | $226,850 |
| Land Assessment | $52,584 | Annual Taxes | $15,532 ($2.13/SF) |
| Improvements Assessment | $174,266 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
03-33-108-001
Land Assessment
$52,584
Improvements Assessment
$174,266
Total Assessment
$226,850
Annual Taxes
$15,532 ($2.13/SF)
Tax Year
2024
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503 S Westgate St
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