Remarks

100% LEASED INVESTMENT PROPERTY WITH GROUND FLOOR RETAIL SPACE WITH FOUR (1 BEDROOM, 1 BATHROOM) APARTMENTS UPSTAIRS. 5,000 SF building with a full basement and a history of high occupancy. Just one block east of Sheridan Rd on the only road to North Point Marina. 10% CAP rate at full asking price using actual 2024 operating income and expenses. Retail store (The Sweet Stop) pays rent and utilities while the separately metered all electric apartment bills are paid by the tenants. Building very well maintained with new blacktop to rear parking lot in 2019, replaced iron steps to rear second floor building entrance in 2021 and west wall brick corner replaced in 2023 and tuckpointed. Membrane roof about 11 - 12 years old and inspected last Fall. Large municipal parking lot just east of the property and there is additional street parking. Priced right for the savvy investor.

Details

MLS#: 12299162
Price: $300,000

Style: Apts/Stores
Sq Ft: 5000
Year Built: 1920

County: Lake
Lot Size: 44X125
Tax Fee: 7502