632 Colfax StPalatine, IL 60067

  • Retail space
  • 0.75 AC
For Sale
$825,000 View listing

Property Details for 632 Colfax St

Year built
1991
Lot size
0.75 AC
Property type
Retail space
APN
02-15-102-089
APU
215102089

Description

This exceptional opportunity presents a well-established auto repair business and its accompanying real estate in Palatine, Illinois. Located at 632 W Colfax Street, the property boasts a substantial 4,373 square feet of building space situated on a 0.93-acre lot. The business, with over two decades of operational history, benefits from a loyal customer base, making it an attractive acquisition for both expansion and new ventures. The building's design is specifically tailored to the automotive repair industry, featuring three convenient drive-in doors for efficient vehicle access and five well-equipped workstations. This layout provides ample space for current operations and allows for significant future growth potential. The sale includes both the real estate and the established business, offering a complete and turnkey solution for a prospective buyer. The property's prime location in Palatine ensures high visibility and accessibility, contributing to the business's long-term success. This is a rare opportunity to acquire a profitable, established business with its associated real estate, offering immediate revenue generation and significant growth prospects. The asking price for this complete package is $825,000. Serious inquiries only.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $8,671,466
    6.5%
    $8,004,430
    7%
    $7,432,685
  • Comparable approach

    Method
    Valuation
    Relative Method
    $8,358,242
    Geo Method
    $10,723,274
  • Alternative Use

    Use
    Valuation
    Residential
    $6,752,036
    Hospitality
    $6,184,829
    Educational
    $5,145,705
    Medical
    $5,322,674
    Retail
    $8,004,430

Location Insight

City
Palatine
County
Cook
State
Illinois
Latitude
42.1185
Longitude
-88.058
CBSA code
16980
CBSA name
CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2022
$41,950
$106,177
$40,292
$146,469
-
$424,708
$161,168
$585,876

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