328 Ridge RdWilmette, IL 60091

Property Details for 328 Ridge Rd

Year built

1986

Lot size

0.13 AC

Property type

Retail space

Property subtype

Storefront properties

APN

05-33-400-113

APU

533400113

Description

This Wilmette, IL shopping center presents a compelling value-add opportunity. The 14,385 square foot property, built in 1980, sits on a 0.62-acre lot and features seven units (five retail, two office) across two stories. Currently 29% occupied, the center is anchored by a credit-rated Domino's Pizza franchisee with a corporate guarantee, under a NNN lease with five years remaining. The property boasts a strong operating history and significant upside potential through increased occupancy. The asking price is $2,900,000, with a pro-forma NOI of $225,000 and a pro-forma cap rate of 7.76%. The property's location at 328 Ridge Rd, Wilmette, IL 60091, offers excellent visibility and accessibility. The property's APN is 05-33-400-112-0000, 05-33-400-113-0000. This multi-tenant retail investment offers a strong foundation for growth and significant returns. The price per square foot is $201.60.

• CAP approach

  CAP return

  Valuation

  6%

  $2,508,942

  6.5%

  $2,315,947

  7%

  $2,150,522

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,861,064

  Geo Method

  $1,861,064

• Alternative Use

  Use

  Valuation

  Residential

  $1,953,588

  Hospitality

  $1,789,476

  Educational

  $1,488,823

  Medical

  $1,540,026

  Retail

  $2,315,947

Location Insight

City

Wilmette

County

Cook

State

Illinois

Latitude

42.0714

Longitude

-87.7223

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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