E Northwest Hwy 18,000 SF 100% Leased Retail Building Arlington Heights, IL 60004 $2,500,000 ($138.89/SF) 4.90% Cap Rate

A rare 12,000 SF commercial building (plus 6,000 SF basement) on a 0.62-acre site in Arlington Heights’ rapidly developing Hickory-Kensington Redevelopment District.
The building is currently divided into three equally sized tenant spaces used for auto repair and auto sales, with lease expirations on 5/31/2027, 5/31/2028, and 6/1/2028—providing short-term income and flexible timing for future owner use or redevelopment.
Appeal to Owner-Users (Auto / Fleet / Service / Trades)
12,000 SF main level with open, functional layouts suitable for auto repair, fleet operations, contractor shops, light industrial, or showroom/sales.
Large 6,000 SF basement ideal for parts storage, inventory, or overflow.
Ample frontage on Northwest Hwy for branding and visibility.
Drive-in access and service-friendly configuration already in place.
Short remaining lease terms allow a buyer to occupy all or part of the building in the near term.
Appeal to Developers
Located within the Core Area of the Hickory-Kensington Plan — the Village’s highest-priority redevelopment zone.
Highlights:
Surrounded by significant new residential and mixed-use projects, including a brand-new four-story development directly north.
Village encourages 2+ story mixed-use redevelopment, with retail/restaurant/service on the ground floor and residential above.
Strong walkability and close proximity to Downtown Arlington Heights and the Metra station.
One of the few remaining sites of this size that has not yet been redeveloped.
Development Potential
The Village’s plan supports:
Mixed-use buildings with commercial at grade and residential above.
Restaurants, breweries, service retail, and other neighborhood-oriented uses.
Higher density projects upon discussion with the Village.
Redevelopment that strengthens the tax base and complements surrounding new construction.
Investment Highlights
High-demand corridor undergoing extensive transformation.
Strong municipal support for redevelopment aligned with the area plan.
Existing income + future upside through owner-use or mixed-use redevelopment.
One of the last strategic parcels in the district not yet redeveloped.
Summary
666 E Northwest Hwy offers a rare dual-path opportunity:
Immediate value for an owner-user seeking a functional automotive or service-based facility, or
A prime redevelopment site positioned at the heart of Arlington Heights’ most active growth district.
Whether your plan is operational, investment-focused, or ground-up redevelopment, this site delivers visibility, flexibility, and long-term upside.