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6112 & 6154 W 111th St 2,242 SF Retail Building Chicago Ridge, IL 60415 $1,376,623 ($614.02/SF) 7.70% Cap Rate
INVESTMENT HIGHLIGHTS
- Located in main retail corridor with numerous national brands
- 111th St. has a high traffic count with about 34,000 vehicles per day.
- Urban site
- Populated residential area with 120,000 within 3 mile radius
- Well known tenant
- Absolute NNN lease
EXECUTIVE SUMMARY
Colliers Net Lease Investment Group is pleased to present to qualified investors the opportunity to acquire a 100% fee interest in a remodeled Meinke location in the Chicago MSA. This is a chance to acquire a recession proof single- tenant net lease with a good operating history and a growing franchisee. Meineke is one of the leading brands in auto-maintenance and repair and is now under the Driven Brands umbrella.
This 2,242-square-foot property is located on 111th Street just west of the I294 on off ramp in the south suburb of Chicago Ridge. The property sits on a commercial corridor surrounded by industrial parks and residential.
111th Street brings 33,800+ people by the property daily. There are over 15,000 people within 1 mile and 119,000+ people within 3 miles of the store.
The single-tenant building is leased for a 15 year term and is offered at $1,376,623 corresponding to a 7.70% cap rate.
This 2,242-square-foot property is located on 111th Street just west of the I294 on off ramp in the south suburb of Chicago Ridge. The property sits on a commercial corridor surrounded by industrial parks and residential.
111th Street brings 33,800+ people by the property daily. There are over 15,000 people within 1 mile and 119,000+ people within 3 miles of the store.
The single-tenant building is leased for a 15 year term and is offered at $1,376,623 corresponding to a 7.70% cap rate.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
2,242 SF
Building Class
C
Year Built
1965
Price
$1,376,623
Price Per SF
$614.02
Cap Rate
7.70%
NOI
$106,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
0.53 AC
Parking
21 Spaces (9.37 Spaces per 1,000 SF Leased)
Frontage
115’ on W 111th St
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $28,015 | |
| Land Assessment | $57,445 | Total Assessment | $85,460 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$57,445
Improvements Assessment
$28,015
Total Assessment
$85,460
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6112 & 6154 W 111th St
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